Oil prices rise on expected economic recovery, likely drawdown in oil stocks

SINGAPORE: Oil prices rose on Tuesday on expectations of a recovery in the global economy after the U.S. Senate approved a $1.9 trillion stimulus bill and on a likely drawdown in crude oil inventories in the United States, the world’s biggest fuel consumer.

But a stronger dollar and receding fears of a supply disruption from Saudi Arabia, the world’s biggest oil exporter, after an attack on its export facilities capped price gains.