New York-Oil futures rose Thursday as US dollar weakness and reports of supply cuts by major producers, including Saudi Arabia, pro- vide support amid a spike in trading volume. NYMEX February crude settled 76 cents higher at $53.01/b. ICE March Brent rose 91 cents to settle at $56.01/b. The dollar declined Thursday against a basket of currencies for the second day in a row. The US Dollar Index fell as low as 100.72 Thursday, down 1.06.
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