Oil ends higher on weak dollar
Crude prices ended higher on Wednesday as the U.S. dollar touched a new 15-month low against a basket of major currencies, Xinhua reported.
Light, sweet crude for December delivery climbed 23 cents to settle at 79.28 dollars a barrel on the New York Mercantile Exchange.
The dollar rebounded a bit after touching a 15-month low in the early session, taking some momentum out of the commodities' surge, but still weak enough to give commodities a boost.
Oil was also supported by a strong surge in China's industrial output and moderate gains in Wall Street.
Dealers now are looking forward to the government inventory report, due to be released on Thursday, hoping to get more information from the demand side.
In London, Brent Crude for December delivery rose 45 cents to settle at 77.95 dollars a barrel on the ICE Futures exchange.