Brent crude gained 12 cents, to $119.05 a barrel, over fears of supply disruptions from the Middle East and a delay in a second bailout package for Greece.

US crude fell 27 cents to $101.53 after data showed a drop of 171,000 barrels in crude oil stockpiles last week.

Ratings agency Moody’s said it may cut the credit ratings of 17 global and 114 European financial institutions, increasing fears of the debt crisis spreading globally, reports Reuters.

Sanction-hit Iran announced advances in nuclear know-how, including new centrifuges, a move that may heighten tensions with the West.