Oil jumps near $80 after EU deal on Spanish banks Associated Press Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Updated 01:48 a.m., Friday, June 29, 2012 SINGAPORE (AP) — Oil jumped to near $80 a barrel Friday in Asia, bouncing off an eight-month low after European leaders agreed to use the continent's bailout fund to funnel money directly to struggling Spanish banks. Oil traders often look to stock markets as a barometer of overall investor sentiment.