Oil prices increased on Wednesday supported by a weak dollar and expectations of tighter supply in the world amid ongoing tension in the Middle East.
International bench-mark Brent crude traded at $82.31 per barrel at 10.26 a.m. local time (0726 GMT), with an 0.33% increase from the closing price of $82.04 a barrel in the previous trading session.
The American benchmark West Texas Intermediate (WTI) traded at $78.46 per barrel at the same time, a 0.40% rise from the previous session which closed at $78.15 per barrel. The weakening of the US dollar against other currencies aided the rise in oil prices.—AA
