NEW YORK, Aug. 18 (Xinhua) -- Oil prices gained on Friday a weak dollar raised market appetite for the dollar-priced oil.
The U.S. dollar fell against most major currencies on Friday amid rising political uncertainty in the White House, making the greenback more attractive for investors holding other currencies.
The dollar index, which measures the greenback against six major peers, was down 0.17 percent at 93.462 in late trading.
Moreover, the Energy Information Administration said in its weekly report on Wednesday that crude inventories fell by 8.95 million barrels in the Aug. 11 week, nearly three times market expectations for a decrease of 3.1 million barrels.
Analyst said report eased market concerns for a global oversupply and supported the oil prices later this week.
The West Texas Intermediate for September Delivery added 1.42 dollars to settle at 48.51 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery gained 1.69 dollars to close at 52.72 dollars a barrel on the London ICE Futures Exchange.
