LONDON  - Oil prices rose Thursday with investors hopeful that a ECB meeting would yield fresh measures to resolve the eurozone’s stubborn debt woes, analysts said.

Brent North Sea crude for delivery in October gained 87 cents to $113.96 in London morning deals. New York’s main contract, light sweet crude for October, climbed 99 cents to $96.35.

“Market players are evidently pinning their hopes on ECB president (Mario) Draghi not disappointing the widely-held expectations and announcing an extensive programme of bond purchasing, in which case oil prices are likely to make further gains,” analysts at Commerzbank said in a note to clients. Draghi in July hinted at a restart of the bank’s sovereign bond-buying programme to help eurozone nations suffering high borrowing costs.

Expectations were further stoked on Monday after European lawmakers said Draghi had told them that buying govt bonds of up to three-year maturity on the secondary market did not amount to bailing out spendthrift euro members.

But some analysts cautioned that any announcements by the ECB might fall short of expectations.