Oil Up $2.24 After Greece Approved Austerity Measure

Bloomberg reported that oil surged $2.24 as the Greek lawmakers approved the austerity measure to resolve its debt crisis.

As quoted in the market news:

Crude oil for March delivery rose $2.24 to $100.91 a barrel on the New York Mercantile Exchange, the highest settlement since Jan. 10. Prices are up 18 percent from a year ago.

Click here to read the full Bloomberg report.