Oil prices rebounded Thursday as the dollar sank against the euro on news of a draft eurozone summit deal to provide loans on improved terms to debt-ridden members like Greece, Ireland and Portugal.
New York's main contract, West Texas Intermediate (WTI) light, sweet crude for delivery in September, rallied $1.13 to $99.53 a barrel, after briefly breaching the psychological level of $100 for the first time since June 10.
Brent North Sea crude for September added 48 cents to $118.63.
