Data regarding US jobs figures and Greece’s debt have spread optimism about the global economy, propping up oil on the Nymex past US$107 per barrel, and Brent crude to near US$126.
As per Associated Press, Greece persuaded a vast majority of its private creditors to sign up to the biggest national debt writedown in history, paving the way for a second massive bailout. In USA, employers added 227,000 jobs in February and the unemployment rate stayed at 8.3% - the lowest in three years. USA- the world's largest oil consumer, has seen the strongest three months of job growth since the Great Recession. Simmering tensions over Iran's nuclear program have kept crude near 10-month highs.
12-Mar-12 
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