US Crude Climbs to $113.20 on Weak Dollar

27 April 2011 (Last Updated April 27th, 2011 18:30)

US crude rose to $113.20 a barrel after the US Federal Reserve assessed the economic monetary policy. US crude climbed by 44¢ to stand at $113.20 a barrel, while Brent crude gained 33¢ to $125.46 a barrel, reports Reuters. The gain in oil prices was influenced by t

US crude rose to $113.20 a barrel after the US Federal Reserve assessed the economic monetary policy.

US crude climbed by 44¢ to stand at $113.20 a barrel, while Brent crude gained 33¢ to $125.46 a barrel, reports Reuters.

The gain in oil prices was influenced by the US Federal Reserve’s decision not to tighten the monetary policy, which weakened the dollar.

Energy Information Administration showed that US petrol inventories fell by 2.51 million barrels to 205.59 million barrels, double the forecast.