Oil Rebounds From Two-Day Low in New York; Brent Premium Widens
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Oil rebounded from a two-day low before international creditors decide on a bailout for Greece. Brent crude’s premium to West Texas Intermediate widened a ninth day amid freezing temperatures in Europe.
Futures gained as much as 0.6 percent after sliding 1 percent yesterday to near a technical support level. Greek Prime Minister Lucas Papademos plans to meet the nation’s political leaders today to discuss additional measures needed to secure a second European Union-led bailout. Brent prices rose for a sixth day as record-low temperatures in Europe boost fuel demand.