Oil fluctuated as Greece struggled to qualify for aid payments and amid speculation the Federal Reserve will announce measures to revive the economy this week.

Futures traded in a $1.26-a-barrel range in New York after Greek Prime Minister Antonis Samaras failed to secure agreement on spending cuts. Traders are focused on the Fed, which starts a two-day policy meeting on Sept. 12. The Fed has completed two rounds of asset purchases known as quantitative easing and may implement a third.

Oil for October delivery traded in a range $95.34 - $96,60 a barrel on the New York Mercantile Exchange. Prices are down 2.5 percent this year.

Brent for October settlement rose 66 cents, or 0.6 percent, to $114.91 a barrel on the London-based ICE Futures Europe exchange. The European benchmark was at a premium of $18.57 to New York-traded West Texas Intermediate crude, up from $17.83 on Sept. 7.