Oil rises over 1% after US data weighs on dollar

Brent crude futures settled up US$1.26, or 1.5%, at US$82.86 a barrel. US West Texas Intermediate crude futures rose US$1.39, or 1.8%, to US$78.03.

NEW YORK: Oil prices rose over 1% on Thursday after US retail data prompted a sell-off in the dollar, though investors eyed an International Energy Agency (IEA) report that flagged slowing demand growth this year.

Brent crude futures settled up US$1.26, or 1.5%, at US$82.86 a barrel. US West Texas Intermediate crude futures rose US$1.39, or 1.8%, to US$78.03.