In-focus

Business

Oil prices rise on US, European economic news

Dunya News

Prices rose as Euro finance ministers met in Brussels on plans to control the region's debt crisis.

Oil prices are higher on encouraging economic news from the US. and Europe pointing to stronger demand in the months to come.Benchmark crude rose $1.87, or 2.2 percent, to $87.94 per barrel in midday trading in New York. Brent crude rose $1.28 to $111.04 per barrel in London.Prices rose as European finance ministers met in Brussels on plans to control the regions debt crisis. In the U.S., the government said unemployment rates fell in half of the states last month as hiring picked up.On Wall Street, stocks surged on strong earnings reports. The Dow Jones industrial average was up more than 200 points at midday.
Related Topics
Karachi
Install Dunya Apps