Oil prices jumped by $1 to trade above $76 a barrel today as the euro surged after data revealed that Germany’s gross domestic product grew 2.2% in the second quarter, the biggest gain in 23 years.

For September delivery, US crude rose 67¢ to stand at $76.41, while London Brent crude rose 66¢ to $76.18 a barrel, reports Reuters.

Oil rose yesterday after a 7% tumble during the past three days, which reduced prices to their lowest level since 19 July.