OIL GUSHER: The price of crude oil jumped 9 percent after a summit in Brussels produced an agreement to funnel money directly to troubled European banks. Oil shot up $7.27 to settle at $84.96 a barrel, the biggest gain in more than three years.
GOLD RUSH: Gold jumped $53.80, its biggest increase since June 1, to settle at $1,604.20. Gold had been weak as investors expected little to no progress at the latest European summit. The concrete proposals that emerged surprised them.
OTHER METALS: Precious metals were higher across the board. Silver rose $1.321 to $27.612 an ounce, platinum rose $63.10 to $1,452.40 an ounce and palladium rose $20.65 to $584.55 an ounce.