Weak Dollar and Middle East Tensions Buoy Oil Prices

26 May 2011 (Last Updated May 26th, 2011 18:30)

Oil prices rose this morning as the dollar weakened and continuous tension in the Middle East lead to demand concerns. US crude rose by 65¢ to stand at $100.88 a barrel, while Brent crude climbed 32¢ to $115.37 a barrel. Reuters reported that demand concerns arisin

Oil prices rose this morning as the dollar weakened and continuous tension in the Middle East lead to demand concerns.

US crude rose by 65¢ to stand at $100.88 a barrel, while Brent crude climbed 32¢ to $115.37 a barrel.

Reuters reported that demand concerns arising from the eurozone debt crisis and disappointing data from the US kept a lid on oil price gains.