Oil prices rose slightly today as the industry awaits Germany’s statement that Europe’s solution to its debt crisis may not come fast enough, which analysts fear will have a downward impact on the oil market.

US crude increased by 11¢ to stand at $86.49 a barrel and Brent crude rose by 1¢ to $110.17 a barrel, reported Reuters.

Margins for US refined products were weaker across most regions last week, falling by about 2% on average as stronger crude prices offset the rise in product prices, according to a Credit Suisse report.