Crude Oil rose today as equities rallied following the release of the U.S. pending home sales report which exceeded economists’ expectations and boosting optimism as to the pace of the global economic recovery. The U.S pending home sales index rose 6%, exceeding economists’ expectations.

Crude Oil for July delivery rose $1.06, or 1.5%, to $73.64 a barrel on the New York Mercantile Exchange.

Read Full Crude Oil Rises on U.S Housing Data