Oil climbs on vaccine hopes, weaker dollar
Oil prices climbed on Wednesday as news about COVID-19 vaccines lifted investor hopes for a recovery in fuel demand and the U.S. dollar, in which oil is traded, reached 2 1/2-year lows.
Brent crude rose 51 cents, or 1%, to $49.35 a barrel by 1405 GMT. U.S. West Texas Intermediate (WTI) crude CLc1> climbed 51 cents, up 1%, to $49.35.
