Oil rises in shift to risk assets as U.S. dollar slides

MELBOURNE: Oil prices rose in early trade on Tuesday, reversing overnight losses, as investors shifted to risk assets and out of the safe-haven U.S. dollar, which slid to a more than two-year low.

Brent crude futures climbed 27 cents, or 0.6 per cent, to $45.55 a barrel at 0055 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 21 cents, or 0.5 per cent, to $42.82 a barrel.