A weaker dollar, which makes oil cheaper for holders of foreign currencies, also supported prices.
LONDON: Oil prices rose to their highest since early March on Wednesday on data showing a big drop in U.S. crude inventories, and a weak dollar, but mounting Covid-19 coronavirus infections weighed on the demand outlook.
Brent crude was up $1.63, or 3.67%, at $46.06 a barrel by 1215 GMT, while West Texas Intermediate oil rose $1.59, or 3.81%, to $43.79 a barrel. Both contracts gained over 4% earlier in the session.
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