Oil prices rise ahead of Greek confidence vote

NEW YORK, Nov 5 (AFP): Oil prices gained Friday as markets prepared for another weekend of mystery over the fate of the eurozone rescue plan. The plan's fate rested greatly on the result of a confidence vote scheduled for late Friday in Athens on the embattled government of Prime Minister George Papandreou, who has backed the bailout funds-for-austerity plan to the anger of many Greek citizens. And even if Greece does commit to the plan, markets will still be waiting to see how the rest of it shapes up in the wake of the G20 summit in Cannes, France, that closed Friday with many questions about the eurozone's future yet unanswered. Oil prices were little changed in New York, a barrel of the WTI light sweet crude for December delivery rising 19 cents from Thursday to $94.26. In London, the contract for Brent North Sea crude ended $1.17 higher at $111.97 per barrel. "The market took a little respite, between a G20 that was a non-event and the Greek situation where there is more playing out tonight," said John Kilduff of Again Capital. Commerzbank analyst Carsten Fritsch said Thursday's quarter- point rate cut by the European Central Bank was also still having an impact. "In view of the apparent U-turn by the ECB to a more growth- oriented monetary policy and the smaller likelihood now of a default by Greece in the near future, oil prices should remain well-supported initially," he said.