NEW YORK (CNNMoney.com) -- Oil prices extended gains Tuesday as the dollar weakened against the euro after concerns over Europe's debt crisis eased.
What prices are doing: Crude oil for April delivery rose $2.56, or 2.6%, to $73.75 a barrel. After falling nearly 8% over three consecutive sessions, crude prices rose 1% Monday to settle at $71.89.
What's moving the market: Prices were boosted by the softer dollar, which fell 1% against the euro on speculation that Europe will help Greece lower its debt.
European Central Bank president Jean-Claude Trichet reportedly will leave a meeting in Sydney early to meet with European Union leaders.
Crude oil, like other commodities, is priced in dollars, and a weaker greenback lifts prices.
The dollar gained ground against the euro last week as debt worries in Greece, Portugal and Spain threatened Europe's economic recovery.
Gasoline prices: The national average for a gallon of regular unleaded gasoline decreased to $2.644, down six tenths of a cent from the previous day's price of $2.652, according to motorist group AAA.
Overnight Avg Rate | Latest | Change | Last Week |
---|---|---|---|
30 yr fixed | 3.80% | 3.88% | |
15 yr fixed | 3.20% | 3.23% | |
5/1 ARM | 3.84% | 3.88% | |
30 yr refi | 3.82% | 3.93% | |
15 yr refi | 3.20% | 3.23% |
Today's featured rates:
Index | Last | Change | % Change |
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Dow | 32,627.97 | -234.33 | -0.71% |
Nasdaq | 13,215.24 | 99.07 | 0.76% |
S&P 500 | 3,913.10 | -2.36 | -0.06% |
Treasuries | 1.73 | 0.00 | 0.12% |
Company | Price | Change | % Change |
---|---|---|---|
Ford Motor Co | 8.29 | 0.05 | 0.61% |
Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
General Electric Co | 13.00 | -0.16 | -1.22% |
Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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