Oil rose for the first time in a week as an almost $1 trillion loan plan by European policy makers to end the region’s sovereign-debt crisis caused global stocks to rally and signaled energy demand may strengthen.

Oil jumped from a 12-week low after the European Union and the International Monetary Fund agreed to offer as much as 720 billion euros ($928 billion) to countries facing instability. The Standard & Poor’s 500 Index gained 4.4 percent, and the euro increased against the dollar for a second day.

(Source: Bloomberg.com)