"The measures approved by the eurozone finance ministers and IMF will provide some momentary upside to oil prices," said Edward Bell, a commodities analyst at the Economist Intelligence Unit. "However, the eurozone has not yet escaped its economic woes and there are no clear signs of a recovery in demand, meaning we expect there will be a drag on oil prices going into 2013."
Brent crude, which is used to set prices for many international varieties of oil, rose 12 cents to $111.04 a barrel on London's ICE Futures exchange.
In other energy futures trading on Nymex:
— Wholesale gasoline rose 0.55 cent to $2.7094 a gallon.
— Natural gas gained 2.6 cents to $3.756 per 1,000 cubic feet.
— Heating oil rose 0.67 cent to $3.0661 a gallon.
Pamela Sampson in Bangkok contributed to this report.
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