Oil Rises to One-Month High as Greek Approval of Austerity Plan

Oil rose to a one-month high after the Greek parliament approved an austerity plan, easing Europe’s debt crisis, and sanctions tightened on Iran. Technical issues halted electronic trading late in the session.

Futures climbed 2.3 percent and global equities advanced after passage of the package needed for 130 billion euros ($172 billion) in aid. Companies controlling more than 100 supertankers said they would stop loading cargoes from Iran, the second-biggest crude producer in the Organization of Petroleum Exporting Countries.