Hopeful news from Europe pushed oil higher

Oil futures edged higher On Friday, as European leaders pledged to save the shared currency. Crude oil for September settlement jumped 0.63%, or 20 cents to $89.59 per barrel during today's New York trading session.  Meanwhile, August gasoline soared 1.52 per cent to $2.86 per gallon, heating oil for August delivery advanced by 0.76 per cent to $2.89 per gallon while August natural gas reversed gains with 1.6 per cent decline, to $3.05 a million British thermal units.