Increased oil prices after Greek parliament's austerity deal

Asia has seen an increase in oil prices after Greek parliament has passed the austerity deal. This deal has been done to secure bailout and to remain away from bankruptcy.

Greece has to pay 14.5 billion euros before March 20 and in the faces of crisis faced by the country, the austerity deal could help the country remain in the euro zone.

From SayPeople,

Brent crude increased to $117.60, i.e. up 85 cents, per barrel on the ICE Futures Exchange in London.
Benchmark crude for March delivery went up by 58 cents at $99.25 per barrel at midmorning Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell $1.17 to settle at $98.67 on Friday.
Oil prices moved around $100 for some of the previous months after signs of improving U.S. economy. Thomson Reuters/University of Michigan surveys of consumer confidence, which become higher in January as a result of Job Gains, also declined in February and some experts are reporting that the decrease of consumer confidence is the result of increased gasoline prices.

Source:
SayPeople