国际英语新闻：Oil nears 80 dollars as U.S. currency falls, stocks advance

NEW YORK, March 2 (Xinhua) -- Oil prices settled near 80 U.S. dollars on Tuesday as the greenback weakened against the euro and stocks gained on recovery optimism.

The euro, which had fallen to the lowest level in more than nine months, strengthened against the dollar this week. And the euro held its gains on Tuesday as growing expectations of a bailout package for Greece eased investors' concerns about the debt crisis. A falling greenback usually increases the appeal of crude futures as an alternative investment.

Meanwhile, the U.S. stocks gained on Tuesday on merger deals and strong economic reports from overseas markets, boosting oil market sentiment.

Crude futures touched 80.95 dollars a barrel during trading before retreating below 80 dollars, as forecasts of a buildup in the weekly crude inventory capped oil prices' gains.

Light, sweet crude for April delivery gained 98 cents to settle at 79.68 dollars a barrel on the New York Mercantile Exchange.

In London, Brent crude for April settlement rose 1.16 dollars to 78.05 dollars a barrel on the ICE Futures Exchange.