Oil Rises Most in Almost Six Weeks on Greek Vote, Fuel Demand

Oil rose the most in almost six weeks amid speculation that Greek lawmakers will approve austerity measures to prevent a debt default and on forecasts U.S. fuel demand will rise before the Fourth of July holiday.

Crude increased 2.5 percent as the euro strengthened before the Greek vote tomorrow that would prevent the zone’s first sovereign debt default. U.S. motorists’ peak fuel use typically occurs during the holiday. Oil extended gains after the National Hurricane Center said a weather system in Mexico’s Bay of Campeche might become a tropical depression.