Oil Price Climbs to $102 a Barrel on Europe Hopes

The Associated Press reported that oil prices inched up to $102 on prospects that European leaders will save the Eurozone’ economy from the debt crisis.

As quoted in the market news:

The price of benchmark crude rose 61 cents to $101.57 per barrel in New York. Earlier in the day, it hit $102.44 — the highest since Nov. 17. Brent crude rose 42 cents to $110.10 a barrel in London.

Click here to read the full The Associated Press report.