Oil Rebounds on Speculation EU Agreement Will Help Fight Crisis

Bloomberg reported that oil rose on prospect that EU leaders may come to an agreement to resolve its debt crisis.

As quoted in the market news:

Brent oil for December settlement rose as much as $1.25 to $109.64 a barrel and was at $109.29 at 1:03 p.m. on the ICE Futures Europe exchange in London. It earlier fell as much as 0.7 percent to $107.65 a barrel as divisions emerged between France and Germany on the bail-out strategy.

Click here to read the full Bloomberg report