Oil markets rose today after Greece approved an austerity bill to secure a second bailout.

Brent crude gained more than $1 and traded at $118.38 a barrel, while US crude was up 87 cents at $99.54.

Asian shares and base metals to gold including financial markets all rose, as the Greek parliament approved the bill.

Gains were capped, however, by data from Japan partly due to slowing global growth, reports Reuters.