Crude oil rose sharply to go past $86 per barrel on Monday amid concerns about the massive oil spill in the US. Speculations about a hefty bailout package for troubled Greece also added to the movement.

Till last information, while US crude was trading at $86.37 a barrel by 11:02 GMT, up by 22 cents, Brent crude was at $87.83 with a gain of 39 cents. Monday's gain stood for consecutive advancement for the fourth session in crude oil prices.

Earlier, on Sunday a huge oil slick went down on the US Gulf Coast after the authorities failed to contain it due to bad weather conditions and high sea.

With the oil spill moving on to a serious note, analysts now expect the accident to bring down crude pile of the US.

Meanwhile, in the European market, investors did not sound confident about the 110 billion Euro bailout package offered to Greece. They still doubt if the package would be able to get rid of the spreading turmoil in the Euro area.

However, dollar gained some strength on back of the ongoing events.