Oil prices rose slightly this evening, though they remained near one-month lows due to continuing signs of weak demand.
Oil prices have fallen by almost $10 a barrel over the last two weeks since hitting a 15-month peak of $83.95 on January 11.
This evening, US crude gained 13 cents to $74.67, while London Brent rose 36 cents to $73.19.
The US dollar was broadly weaker today. A weak dollar tends to support commodities priced in dollars as they become cheaper for holders of other currencies.
Despite Monday's rise, demand for oil remains relatively weak in the wake of the financial crisis. Milder weather in the US Northeast, the world's top heating oil market, will add to that weakness this week.
