Crude oil prices soared this evening, in line with rising stock markets and a weaker dollar, as the energy market was boosted by the easing Greek debt crisis. London's Brent crude climbed $1.28 to $87.43 a barrel, while US crude surged $2.07 to $85.29.
The weaker US currency makes dollar-priced oil cheaper for buyers using stronger currencies, like the euro, and therefore this tends to lift demand and prices.
Oil had risen on Wednesday in a late rally, one day after being rocked by the Greek financial crisis and the strengthening dollar.
The market had clawed back ground after the US Federal Reserve held interest rates at ultra-low levels, further stimulating the economy, which is a top consumer of oil.
