US crude held near $93 a barrel after industry data showed a larger-than-expected drop in crude stocks and a surprise fall in petrol inventories.

US crude for August fell by 2¢ to stand at $92.87 a barrel, while ICE Brent crude rose by 23¢ to $109.01 a barrel.

Brent crude rose on growing optimism that the debt crisis in Greece will be resolved, thereby avoiding a contagion in Europe.