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Mar crude posted a 1 1/2 week high and Mar gasoline climbed to a 5 1/2 month high. Bullish factors included (1) the weaker dollar, which encourages investment demand in commodities, (2) the action by Greece's parliament to approve austerity measures needed to ensure a 130 billion euro aid package, which reduces concern Greek will default on its debt and undercut the global economy and energy demand, (3) the statement from the Overseas Shipholding Group, Frontline Ltd. East Coast processed 903,000 barrels of oil a day in the week ended Feb 3, down from 1.11 million a year earlier.
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