NEW YORK: Oil jumped as much as 3 percent on Tuesday as a weak dollar propped up commodities, but crude prices came off their highs in post-settlement trading on signs of another big U.S. supply build last week.
Oil prices were up most of the day, tracking the dollar, despite concerns about rising U.S. inventories. While some traders expressed surprise with the market's behavior, others shrugged it off as they did not think oil was on the cusp of an extended recovery because of nagging worries about the global oversupply in crude.
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