Oil higher as markets awaits vote in Greece

NEW YORK (AP) — Oil is moving higher on a weaker dollar and ahead of a key development in Greece’s budget crisis.

Benchmark West Texas Intermediate for July delivery added 50 cents today to $94.11 per barrel on the contract’s last trading day on the New York Mercantile Exchange. Most of the trading already has shifted to the August contract, which added 49 cents to $94.12 per barrel.

Oil, which is priced in U.S. currency, tends to move inversely to the dollar. The dollar fell to the euro early today ahead of a key vote by Greek’s Parliament that could pave the way for financial reforms. The reforms are necessary for Greece to receive its next $17 billion bailout loan.

Meanwhile, retail gasoline lost less than a penny overnight to $3.637 per gallon.