World markets have responded positively to Brent crude futures falling by more than $3 after the Arab League said it was considering stepping in to end the crisis in Libya.
Crude oil has also declined and is now just shy of $113 a barrel, falling from its 29-month high, which helped drive equity markets across the globe into the black.
The FTSE has opened brightly and is 0.19% at 5,925.85, while the German Dax is up 0.42% to 7211.23 and the French Cac has risen 0.48% to 4053.63.
The major European indices were also boosted by good sessions in the US and Asia.
US shares crept higher with the Dow Jones rising 8 points to 12,066 while the S&P 500 added 10 points at 2,748.
Asian stocks advanced, rebounding from yesterday's retreat which saw the Nikkei fall by more than 2%.
The Nikkei index ended trading up 93.64 points, or 0.9%, to 10,586.02.
Meanwhile, the euro reached a four-month high against the dollar, rising 0.04%.
Alternatives to alternatives?
Our weekly heads-up for advisers
Patience must be a watchword
'Misleading, unclear, unfair' promotions
Will extend to wider models