Oil prices rose in Asia this morning after euro zone finance ministers cleared the way for debt-hit Greece to receive €12 billion by mid-July.
US crude rose 12 cents to $95.07 a barrel and Brent North Sea crude added 18 cents to $111.95.
Analysts said the decision on Greece had eased concerns that the country would sink the European economy into a downturn.
Euro zone ministers still need to work on a second rescue package potentially to ensure Greece can stay afloat until at least 2014, warding off a devastating default that would reverberate across Europe.
