Crude Rises to Five-Month High as Market Eyes Tightness

摘要

Oil futures climbed higher on Tuesday, with both benchmark contracts hitting their highest levels since late last year as a weaker dollar coincided with overall bullish sentiment. After posting surprisingly strong first-quarter results, the chief executive at BP said the UK major believes oil demand will grow at a pace to match supply later this year. With oversupply the main factor weighing down crude prices, such statements helped bolster buying action.