Oil futures jumped above $101 a barrel mark as the US dollar plunged to 3 week against the single currency and also the rally in Asian equities boosted the commodity.
The euro rose to a three-week high against the dollar on speculation European officials will approve additional assistance for Greece, increasing demand for the region's assets. The euro pared a monthly loss after Luxembourg Prime Minister Jean-Claude Juncker said European leaders will decide on a new aid package by the end of June.
WTI sweet oil futures are trading at $ 101.07 up 48 cents a barrel in electronic trading on the New York Mercantile Exchange. The euro advanced to $1.4317 from $1.4282 in New York yesterday, after rising to $1.4406, the strongest since May 11.
MCX crude benchmark futures ended the session at Rs. 4534 down 0.44%. The commodity may start today sessions above Rs. 4540 levels with resistance near Rs. 4570 levels.
