World oil prices edged higher this evening, helped by rising stock markets and the weaker US dollar. US crude added six cents to $85.45 a barrel, while London's Brent crude gained 43 cents to $85.23.
A weaker US currency tends to benefit dollar-priced oil because it becomes cheaper for buyers using stronger currencies, and therefore stimulates demand and prices.
Oil had fallen on Thursday, dropping further away from Tuesday's 18-month high above $87, amid concerns of weakening demand and growing US crude inventories.
The US Energy Information Administration (EIA) on Wednesday said American oil inventories advanced by two million barrels in the week ending April 2. That was more than market consensus expectations for a gain of 1.4 million barrels, suggesting weak demand.
