Skip to content
Subscriber Only

Oil Trades Near a Nine-Month High on Greek Bailout Deal

Oil increased to a nine-month high after Greece won a second bailout and Iran said it stopped selling crude to France and Britain.

Futures rose 2.5 percent after the euro-area ministers approved 130 billion euros ($173 billion) in aid for Greece by tapping into European Central Bank profits and coaxing investors into providing debt relief, shielding the region from a default. Iran stopped selling oil to the countries yesterday, preempting a European Union ban, an official news website said.