Oil markets rose today after producer group OPEC agreed to retain its output limit at 30 million barrels a day.

The deal implies a cut in supply of 1.6 million bpd, reported Reuters.

Brent crude rose by 76 cents to $97.93 a barrel but further gains were capped, as investors remained cautious ahead of the outcome of the Greek elections.

US crude gained 69 cents to $84.60 a barrel but again, gains were capped after new claims for jobless benefits rose for the fifth time in six weeks.