Oil rises as dollar slips, focus shifts to economic data

Brent crude futures rose US$1.42, or 1.6%, to settle at US$88.42 a barrel and US West Texas Intermediate crude futures climbed US$1.46, or 1.8%, to US$83.36 a barrel.

NEW YORK: Oil prices rose by more than US$1 a barrel on Tuesday as the US dollar index fell to its lowest level in more than a week and investors shifted their focus away from tensions in the Middle East to the state of global economies.

Brent crude futures rose US$1.42, or 1.6%, to settle at US$88.42 a barrel and US West Texas Intermediate crude futures climbed US$1.46, or 1.8%, to US$83.36 a barrel.