Oil rises $1 with equities, weaker dollar
Singapore, September 13, 2011
Oil tracked equities higher on Tuesday as a weaker dollar rekindled some appeal for commodities as concern eased about Europe's deteriorating debt crisis.
The euro bounced back from Monday's seven-month lows against the dollar on news that China, the world's second-largest oil user, might bolster Italy with financial support, tempering fears of a Greek debt default and contagion.
US crude climbed $1 to $89.19 a barrel by 0108 GMT, while Brent added $1.02 to $113.27. – Reuters