Brent Oil Advances After 3-Month Low on Optimism in Cyprus Debt Crisis

Reuters reported that Brent crude oil reached above $108 per barrel as concerns over the Cyprus debt crisis have eased. Signs that the US Federal Reserve will continue its stimulus programs have also helped Brent crude to recover from a 3-month low.

As quoted in the market news:

Brent crude for May rose $1.27 to settle at $108.72 a barrel. It had dropped nearly 2 percent to a three-month low on Tuesday. U.S. crude for April rose 80 cents to $92.96 per barrel.

Click here to read the full Reuters report.