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NEW YORK, March 3 (Xinhua) -- Oil prices rose on Friday as weaker U.S. dollar encouraged buying.
The dollar dropped against other major currencies on Friday as investors were digesting the Federal Reserve Chair Janet Yellen's latest remarks.
The dollar index, which measures the greenback against six major peers, decreased 0.63 percent at 101.560 in late trading Friday.
A weaker dollar made green-back denominated oil cheaper and more attractive for buyers in other currencies.
The West Texas Intermediate for April Delivery added 0.72 dollars to settle at 53.33 dollars a barrel on the New York Mercantile Exchange, while Brent crude for May delivery increased 0.82 dollars to close at 55.90 dollars a barrel on the London ICE Futures Exchange.
