Oil Up After European and Denmark Central Bank Rate Cuts

OIL PRICE - HOUSTON. Oil prices rose on Thursday as the European Central Bank cut interest rates for the first time in roughly five years, and Denmark's central bank followed with its own rate cut.

Brent crude futures were up $1.07 or 1.36% at $79.48 a barrel by 11:22 a.m. EDT (1522 GMT). U.S. West Texas Intermediate crude futures were up $1.09 or 1.47% at $75.16.