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RTRS: Oil surges to $95 a barrel on back of US bailout hopes
 
Oil rose towards $95 yesterday supported by expectations the US House of Representatives was likely to pass a financial rescue plan to stem further global market turmoil.

But the gains in crude oil prices were limited by caution ahead of US employment data and due to slow US gasoline demand.

The House was due to vote on the amended $700 billion (Dh2.5 trillion) deal for the country's crumbling financial sector late yesterday. US light crude rose 61 cents to $94.58 a barrel by 1105 GMT. On Thursday, it plunged $4.56 amid a broader sell-off in the commodities markets. London Brent crude rose more sharply than US crude.

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