Oil up as Italy’s PM to Resign

Reuters reported that oil prices inched up after news surfaced that Italy’s Prime Minister Silvio Berlusconi will resign following approval of a new budget deal.

As quoted in the market news:

U.S. December crude rose $1.28 to settle at $96.80 a barrel, highest close since July 28. Tuesday’s peak of $97.08, reached in post-settlement trading, was the highest front-month intraday price since August 1.

Click here to read the full Reuters report