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The price of oil has risen to a six-week high as reports of a rescue for debt-laden Greece lifted the euro and helped push the US dollar lower.

A weaker dollar makes oil cheaper for buyers in other currencies. The euro rose 0.3% to $1.3608 in Monday trading.

It had fallen to a nine-month low of $1.3477 on Friday after the US Federal Reserve lifted a key interest rate.

US light crude hit $80.51 a barrel at one point, before falling back to $80.16, up by 35 cents.

In London, Brent crude added 42 cents to settle $78.19.

'Propping up sentiments'

German magazine Der Spiegel reported over the weekend that Germany's finance ministry had come up with a plan that would see countries that use the euro providing aid worth between 20bn and 25bn euros (£17.6bn-£22bn) for Greece.

"The weak dollar is the biggest driver of crude prices this morning and hopes of a financial rescue for Greece are propping up sentiments," said Clarence Chu, a trader with Hudson Capital Energy in Singapore.

Oil analysts said prices were also being lifted by figures showing an increase in oil refining in China, and the continuing strike by Total refinery workers in France.