Oil prices rose on Wednesday by the most in over a month, boosted by a weaker U.S. dollar following a news conference by U.S. President-elect Donald Trump and on news that Saudi Arabia had cut exports to Asia.
Oil’s gains came despite government data showing a bigger-than-expected weekly build in U.S. crude and fuel inventories.
The U.S. dollar collapsed during Trump’s remarks, which disappointed investors who had sent the currency to its highest level in a week ahead of this news conference.
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