WKYT | Lexington, Kentucky | News

Oil rises on Greek vote, Iranian supply concerns

Oil prices are rising after Greece took a key step toward avoiding a bankruptcy that could hurt Europe's economy.

Benchmark oil rose $1.38 to $100.05 per barrel on Monday in New York. Brent crude rose 51 cents to $117.26 in London.

Greek lawmakers approved deep spending cuts to help the country get additional bailout money. European leaders meet Wednesday to discuss the bailout.

Meanwhile, there are renewed concerns about tensions around Iran's nuclear weapons program, as some shipping companies have decided to avoid loading Iran's crude because of pending sanctions.

At the pump, AAA says the national average for a gallon of gasoline rose less than a penny on Monday to $3.51. That's 12 cents more than a month ago and 38 cents more than a year ago.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 139233373 - wkyt.com/a?a=139233373