Article updated: 9/6/2012 6:24 AM

Oil price rises ahead of key European bank meeting

Buy this photo Buy this photo
Gallery Image

Protesters march to the Department of Energy building at suburban Taguig city, east of Manila Thursday Sept. 6, 2012. The protesters are against the Independent Oil Price Review Committee report allegedly concluding that "oil companies are not overpricing the public and gaining excessive profits from consumers. The oil companies have been steadily raising oil prices due to situations in the world market.

Associated Press

About this Article

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.