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Dollar weakness helps lift oil prices

Oil prices up in line with stock markets
Oil prices up in line with stock markets

Crude oil prices advanced slightly today, helped by firmer stock markets.

By lunchtime, US crude had gained 14 cents to $94.01 a barrel. Brent crude rose 35 cents to $103.95.

Traders said crude prices reversed direction from morning slumps due to some slight weakness in the US dollar.

A weaker US currency makes dollar-priced crude more attractive to traders using other currencies.