Oil Prices Soar Amid Rally in U.S. Equities

Reuters reported that the prices of oil went up 80 cents as traders grew bullish on high U.S. stock markets.

As quoted in the market news:

The S&P 500 stock index rose by about 0.6 percent on Tuesday. U.S. equities indices are hovering near five-year highs on prospects for quicker economic recovery, healthy U.S. corporate earnings and a spate of large corporate mergers.

Click here to read the full Reuters report.