Oil Rises on Outlook for European Economy

Bloomberg reported that oil surged on hopes of investor confidence in Germany and a debt sale in Spain.

As quoted in the market news:

Crude for January delivery on the New York Mercantile Exchange rose as much as 88 cents to $98.65 a barrel and was at $98.45 at 1:36 p.m. in London.

Click here to read the full Bloomberg report.