- Peter Kinder resigns federal agency post, concludes position unnecessary and waste of tax dollars (6/16/18)2
- Stormy Daniels to visit East Cape Girardeau (6/13/18)20
- Longtime downtown Cape bartender Marcellus Jones remembered by friends (6/12/18)2
- Committee to start planning process for indoor aquatic center in Cape (6/20/18)1
- A community rallies behind Honorable Young Men's Club (6/16/18)1
- Southeast to spend $150,000 to refresh brand with Ohio firm (6/19/18)6
- New urban dance studio opens on Broadway (6/15/18)2
- Jackson natives compete in 260-mile canoe race (6/16/18)1
- Couple charged in beating death at Brick's (6/13/18)
- Mother, child reportedly hit by car in Cape Girardeau (6/18/18)
Oil prices rise on eve of Greek vote
NEW YORK -- Oil climbed more than 2 percent Tuesday ahead of a vote in Greece to approve tough new financial reforms that would shore up its beleaguered economy.
Benchmark West Texas Intermediate gained $2.28, or 2.5 percent, to settle at $92.89 per barrel Tuesday on the New York Mercantile Exchange. In London, Brent crude added $2.79, or 2.6 percent, to settle at $108.78 per barrel on the ICE Futures Exchange.
On its own, Greece's financial trouble wouldn't normally move world oil prices. But analysts say that if the country fails to pay its bills, its problems could spread to neighboring countries and undercut the European Union's economy.
The euro strengthened against the dollar, and that pushed oil higher. Oil, which is priced in U.S. currency, tends to rise as the dollar weakens and makes crude barrels cheaper for investors holding foreign money.
Greek lawmakers will vote today and Thursday on a $40 billion austerity plan. Riots broke out in Athens Tuesday as lawmakers mulled new taxes, spending cuts and other reforms.
The austerity plan is required for the country to receive bailout money from the European Union and the International Monetary Fund.