The December Brent crude oil contract was gaining $1.15 to $109.20 a barrel and West Texas Intermediate (WTI) light sweet crude oil for November delivery was rising 29 cents to $86.10. The Dow was up more than 150 points and the U.S. dollar index was slumping by 0.9%.
In another sign that Europe is nearing a resolution to its debt crisis, political parties in Slovakia agreed to let the country's parliament approve an expansion of the European Financial Stability Facility by Friday at the latest. The announcement came a day after Slovakia voted against the measure, making it the only eurozone country to oppose the July 21 agreement to increase the fund.
Also, the European Commission has recommended that Greece receive another round of bailout funding and that a permanent eurozone rescue fund be launched by the middle of next year.Crude oil prices "are now well above the median, green Bollinger band
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