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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




Tags: Oil | Singapore | Dollar | equities | debt |

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