Oil prices rallied this evening, as the US dollar sank before a crucial Federal Reserve meeting and comments from OPEC kingpin Saudi Arabia.
Brent North Sea crude jumped 82 cents to $85.44 a barrel. US crude leapt $1.04 to $83.99.
The euro powered ahead against the dollar in nervous trading, with investors preoccupied by a Federal Reserve meeting that could yield fresh stimulus moves to shore up the flagging US recovery.
A weaker US currency tends to boost dollar-priced oil, which becomes cheaper for buyers that use stronger currencies.
Meanwhile, the oil market continued to draw strength from comments from Saudi Arabia's oil minister Ali al-Naimi, who said on Monday that current oil price levels at above $80 a barrel were within a 'very comfortable zone'.
Saudi Arabia is the leading producer and exporter within the Organisation of Petroleum Exporting Countries, which pumps 40% of the world's oil. Oil was also lifted this week by upbeat industrial data from the US and China, the world's major energy consumers, analysts said.
