Oil rises 3% on IEA demand upgrade, weaker dollar


Brent futures settled US$2.35 higher, or 3.2%, at US$76.61 a barrel. US West Texas Intermediate (WTI) crude climbed US$2.11, or 3%, to US$71.58.

NEW YORK: Oil prices rose 3% on Thursday, extending the previous session's gains, boosted by a weaker dollar and as the International Energy Agency (IEA) lifted its oil demand forecast for next year.

Brent futures settled US$2.35 higher, or 3.2%, at US$76.61 a barrel. US West Texas Intermediate (WTI) crude climbed US$2.11, or 3%, to US$71.58.

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