Oil Surges 59 Cents on Greece’s Bailout Hopes

Business Week reported that oil surged 59 cents on hopes that Greece’s second bailout crisis will get resolved soon.

As quoted in the market news:

Oil for March delivery gained 59 cents, or 0.6 percent, to $102.39 a barrel at 1:20 p.m. on the New York Mercantile Exchange. The price ranged from $100.84 to $102.69, the highest intraday level since Jan. 12.

Click here to read the full Business Week report.