Crude prices rose amid a weakening dollar and signs of tightening global supply. US light sweet marker WTI gained $2.07/bl to $65.56/bl in the week to 29 January, while Ice Brent rose by 43￠/bl to $69.46/bl. Falls in the value of the dollar against other leading currencies boosted crude and other commodities that are priced in the US currency. And US crude stocks fell by 1.1mn bl to just under 412mn bl in the week to 19 January, EIA data show, marking a tenth straight week of declines.
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