US crude futures rise $1.40/bbl on weak dollar

摘要

HOUSTON (ICIS)--NYMEX WTI crude futures for June delivery recouped the losses posted during the previous session, settling up $1.40 at $44.04/bbl on Tuesday, in response to the US dollar falling against a basket of currencies ahead of the Federal Reserve’s meeting. A weak dollar makes oil imports cheaper for countries using other currencies and encourages covering supplies.