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OIL FUTURES: Crude Oil Up On Optimism Of Greek Bailout Deal ?

WSJ -- LONDON (Dow Jones)--Crude oil futures rose Wednesday alongside European equities on optimism that Greek lawmakers were close to a deal on the restructuring of the country's debt.

At 1115 GMT, the March Brent contract on London's ICE futures exchange was up 46 cents, or 0.4%, at $116.67 a barrel. The March contract on the New York Mercantile Exchange was trading up $1.21, or 1.2%, at $99.60 a barrel.

"We see a strong rally in the European equity markets on the positive outcome about Greece and that is the key element that is moving the oil markets today," said Mryto Sokou, research analyst at Sucden Financial. "Also with a strong rally in the euro, crude oil prices are heading toward $100 [a barrel] for WTI and $118 [a barrel] for Brent."

Greek Prime Minister Lucas Papademos is scheduled

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Submitted Feb 08, 2012 By: Aniche

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hoosierva All-Star Author Indianapolis Posts:983 Points:239,775 Joined:Jul 2011	Message Posted: Feb 8, 2012 8:59:02 AM Ignore hoosierva Report Abuse really getting sick of the speculators on anything to do with crude. Wish they would find another market to manipulate. This one is getting beat like a dead horse
MontanaMac Champion Author Washington Posts:1,078 Points:278,775 Joined:May 2011	Message Posted: Feb 8, 2012 6:20:06 AM Ignore MontanaMac Report Abuse Greek headlines this morning have the Greek leadership admitting their situation is more or less hopeless.
lcleveland Champion Author San Antonio Posts:1,460 Points:333,900 Joined:May 2011	Message Posted: Feb 8, 2012 5:44:35 AM Ignore lcleveland Report Abuse as usual gas goes up any way you look at it
scu227 Champion Author New Haven Posts:2,215 Points:420,675 Joined:Feb 2011	Message Posted: Feb 8, 2012 5:24:56 AM Ignore scu227 Report Abuse They have already use this excuse before many times over.
Evilmaddog Champion Author British Columbia Posts:1,460 Points:597,530 Joined:Aug 2010	Message Posted: Feb 8, 2012 5:05:43 AM Ignore Evilmaddog Report Abuse Greeks and gas prices?????
Tigercat88 Champion Author North Carolina Posts:1,370 Points:256,765 Joined:Jul 2011	Message Posted: Feb 8, 2012 4:41:12 AM Ignore Tigercat88 Report Abuse More speculation which means more expensive Gas.
WalRus49 Champion Author Boston Posts:2,245 Points:508,765 Joined:Nov 2010	Message Posted: Feb 8, 2012 4:35:26 AM Ignore WalRus49 Report Abuse More organized mayhem and pillage...........
fjkcpa Champion Author Houston Posts:1,582 Points:252,445 Joined:Nov 2005	Message Posted: Feb 8, 2012 4:35:10 AM Ignore fjkcpa Report Abuse Sock it to me. Sock it to me. Sock it to me.
ggt49 All-Star Author Grand Rapids Posts:631 Points:444,310 Joined:Apr 2010	Message Posted: Feb 8, 2012 4:13:30 AM Ignore ggt49 Report Abuse Just another reason to raise gas prices.
bullet226 Champion Author Toronto Posts:2,691 Points:529,940 Joined:Nov 2010	Message Posted: Feb 8, 2012 4:13:14 AM Ignore bullet226 Report Abuse Is this still going on? Greece is worse than the American auto companies