Oil rises as the dollar weakens

The price of oil climbed, reversing earlier falls, on the back of the weakening dollar.
US light sweet crude added $1.16 to 114.03 a barrel, while in London, Brent crude added 99 cents to $112.93.
The dollar weakened against the euro after official US data showed inflation was quickening, helping push up oil and other commodities such as gold.
Investors tend to buy commodities as the greenback weakens because it makes such investments relatively cheaper.
Earlier in the day, oil had fallen below $112 a barrel after Tropical Storm Fay avoided oil operations in the Gulf of Mexico. ...