Oil rises on euro gains

(MENAFN- Saudi Press Agency) The price of oil rose more than $1 a barrel Monday as the euro strengthened against the dollar, AP reported. The euro rose to $1.3415 against the dollar from $1.3363 late Friday in New York. A strong euro tends to result in higher oil prices by making crude priced in dollars cheaper - and a more enticing investment - for traders using currencies other than the greenback. Benchmark oil gained $1.31 to finish at $97.03 a barrel on the New York Mercantile Exchange. In London, Brent crude, used to price international varieties of oil, fell 77 cents to end at $118.13 a barrel on the ICE Futures exchange. In other energy futures trading on the Nymex: - Wholesale gasoline fell 4 cents to finish at $3.02 a gallon. - Natural gas rose less than a cent to end at $3.28 per 1,000 cubic feet. - Heating oil gave up less than a penny to finish at $3.23 a gallon.