Oil prices rose this morning over investor optimism that policymakers may reach a deal to tackle the eurozone debt crisis, which could lead to a decline in oil demand growth.
Paris and Germany are discussing a plan to reduce Greece's debt and stop a contagion spreading to the rest of the continent.
Brent crude futures rose by 5¢ to stand at $112.28 a barrel, while US crude traded up 29¢ to $87.09.
Oil prices were also supported by US retail sales, which grew at their fastest pace in seven months in September, reports Reuters.
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