Oil prices rose more than 1% on Tuesday as a weaker U.S. dollar and expectations of a decline in U.S. crude oil supplies supported black commodity trading.
Brent crude futures rose $ 67.71 a barrel, while US WTI was up $ 64 a barrel.
The dollar index continued to plunge to a six -week low against most major currencies, causing oil prices to be cheaper for holders of other major currencies.
Also supporting the strengthening of prices, US crude oil and distillery stocks are expected to show a decline last week, according to forecasts from Reuters on Monday.
Meanwhile, positive news about vaccines in Europe has given new hope to global crude oil demand.
Pfizer and BioNTech will reportedly supply the European Union (EU) with an additional 100 million doses of Covid-19 vaccine, thus boosting market confidence to see a stronger and faster recovery in Europe in the second half of this year.
