Oil price up $1.29 at $78.18 in London, in New York to $79.68 (+0.98)

As of March 2nd, the IPE Brent Crude February futures contract rose to $78.18 (+1.29) a barrel on the London-based ICE Futures Europe exchange. Light Sweet Crude gained $0.98, to $79.68 on the New York Mercantile Exchange.