LONDON, June 14 Oil prices rallied on Monday as a weaker dollar lifted demand for the key commodity, analysts said.

Brent North Sea crude for delivery in July jumped 1.52 dollars to 75.87 dollars a barrel in late afternoon London trade.

New York's main futures contract, light sweet crude for July, gained 1.75 dollars to 75.53 dollars.

“It seems that risk appetite is back again on the table as global equity markets are recovering strongly while the weakening US dollar is still supportive for further gains in the energy market,” said Sucden Financial analyst Myrto Sokou.

The euro was higher against the dollar on Monday, extending gains on hopes that positive data means the eurozone debt crisis will not derail the global economic recovery, dealers said.—AFP