Oil prices hit 5-month high as US crude stocks fall sharply
NEW YORK: Oil prices rose to their highest since early March on Wednesday after a large decline in US crude inventories and supported by a weak dollar, but mounting coronavirus infections had investors worried about the demand outlook.
Brent crude was up $1.51, or 3.4%, at $45.94 a barrel by 11:13 a.m. ET (1513 GMT). West Texas Intermediate oil rose $1.52, or 3.7%, to $43.22 a barrel.
