Oil prices rose in volatile trade on Tuesday after the dollar slumped but doubts over whether major producers can agree on curbing their output are keeping the market on edge. Brent crude, the global oil benchmark, rose 1.7% to $43.54 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 1.3% at $40.88 a barrel. The U.S. oil benchmark settled above $40 a barrel for the first time in three weeks on Monday while Brent touched a four-month high. “Dollar weakness and a generally positive sentiment toward commodities took oil prices higher,” said analysts at PVM brokerage.
National Average Price for Regular Unleaded Current: $2.628; Month Ago: $2.648; Year Ago: $2.724. National Average Price for Diesel Current: $3.013; Month Ago: $3.002; Year Ago: $3.261.