Replies to post #554839 on $Stock*Shop*Charts*News*Option$

[Tuff-Stuff]

-->Oil rose for a second day, extending the biggest rally since October 2012 after Saudi Arabia said it was confident that crude will rebound as global economic growth boosts demand.

Blaming the fall in oil prices on speculators and the lack of cooperation from non-OPEC producers, Saudi Arabia also announced that it would not cut output even if non-OPEC nations did so.

Brent crude is up 1.8% at $62.51/bbl. WTI is up 1.9% at $58.24.