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Oil markets rose today over renewed hopes of an increase in global demand as Greece tries to get its debt crisis under control and supply in the Middle East continues to be disrupted.

Brent crude increase 20 cents to $117.40 a barrel, while US crude added 33 cents to reach $99.04, its third consecutive rise, reports Reuters.

Investors expected Europe to approve a plan to resolve Greece’s debt troubles in another bailout package, while violence in Syria worsened and Iran renewed a threat against the US.

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By GlobalData