Oil rises ahead of European bank meeting

Oil   Oil
By Pamela Sampson on September 6, 2012

BANGKOK (AP) — Oil prices rose Thursday ahead of a meeting of European central bankers who are expected to announce a plan to help financially strapped countries.

The European Central Bank is expected to announce a bond-buying program to reduce high borrowing costs in Spain and Italy. That could lower their chances of needing an emergency bailout, ease concerns about their economies and translate into growth and more demand for energy.

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