Oil prices rise to over one-month highs on weak dollar | Reuters

Oil prices rise to over one-month highs on weak dollar | Reuters

Oil prices rose to over one-month highs on Tuesday as a weaker U.S. dollar supported commodities and on expectations that crude inventories fell in the United States, the world's biggest oil user, though rising coronavirus cases in Asia capped gains.

Brent crude futures for June delivery had risen by 66 cents, or 1%, to $67.71 a barrel as at 0642 GMT after earlier hitting a session high of $67.97.

U.S. West Texas Intermediate (WTI) crude futures for May delivery, which expire on Tuesday, were up 70 cents, or 1.1%, at $64.08 barrel. The more-active June contract was at $64.02, up 0.9%, or 59 cents.

Buyers using other currencies pay less for dollar-denominated oil when the greenback weakens.