Brent stayed above $125 a barrel today as Greece secures a bond swap deal to avoid a potentially disastrous default.

The debt swap agreement brings the country a step closer to securing a bailout.

Oil prices also found support from data from China, which showed a lower than expected annual inflation, reports Reuters.

Brent crude, fell 35 cents to $125.09 a barrel, while US crude rose 33 cents at $106.91.

US data showed jobless claims were up, but labour outlook remained bright, helping to hold gains in crude prices.