LONDON (AFP) - Oil prices clawed back some lost ground on Thursday, rebounding from steep losses the previous day as the dollar weakened after hitting a 10-month high against the euro, traders said. In late morning deals, New Yorks main contract, light sweet crude for May delivery, added 38 cents to 80.99 dollars a barrel. Londons Brent North Sea crude for May gained 31 cents to 79.93 dollars. The European single currency edged higher in afternoon London trade, having struck a 10-month low of 1.3283 dollars on heightened concerns about the Greek debt crisis, dealers said. The euro stood at 1.3349 dollars, up from 1.3315 dollars in New York late on Wednesday. Crude oil prices rose slightly, as the euro showed (some) strength against the US dollar and provided some help to the energy market, Sucden analyst Myrto Sokou said. A weaker US unit tends to lift oil demand because dollar-priced crude becomes cheaper for buyers using stronger currencies. Today, market participants will be watching for the US weekly jobless claims figures, Sokou said. The data will be eagerly awaited for the latest clues on the health of the United States, the biggest energy consuming nation in the world. Oil fell on Wednesday, as traders tracked the surging dollar as the euro was hammered by news of a credit rating downgrade to Portugal, which jangled market worries about a wider eurozone debt crisis. Oil was also hit by US demand worries after a government inventory report showed a jump in American crude stocks. The US governments Department of Energy said in its weekly inventory report on Wednesday that crude oil inventories rose 7.2 million barrels last week, confounding expectations of an increase of 1.7 million barrels. The report ... showed a very substantial increase in crude oil inventory over the past week, said Victor Shum, a Singapore-based analyst with energy consultancy Purvin and Gertz. A European Union summit kicks off on Thursday in Brussels, with European leaders hoping to seal a deal to help Greece out of its deficit crisis. Greeces 15 fellow eurozone partners have been seeking for weeks to agree how to help Athens deal with an unprecedented deficit crisis but persistent uncertainty about a potential bailout has rattled financial markets.