Oil prices rose on Monday, in line with equity markets and on improved sentiment after Cyprus and its international creditors struck a bailout deal, averting collapse of the eurozone country's banking system. Brent North Sea crude for delivery in May increased 69 cents to $108.35 a barrel in London midday deals. New York's main contract, light sweet crude for May, added 45 cents to $94.16 a barrel. "The oil market is reacting positively to news that Cyprus has reached a deal," said Victor Shum.