(Reuters) - Oil prices ended up again on Tuesday as a tumbling dollar sent most commodities rallying, bringing crude's four-day rise to about 19 percent, its biggest such advance since January 2009.
Despite signs that U.S. crude supplies had registered another heavy build last week, investors were more confident that oil prices have hit a bottom after a seven-month rout. Traders said oil bulls were encouraged by BP's plan to cut capital expenditures 13 percent in 2015, which came after reductions announced by other major energy companies.
Despite signs that U.S. crude supplies had registered another heavy build last week, investors were more confident that oil prices have hit a bottom after a seven-month rout. Traders said oil bulls were encouraged by BP's plan to cut capital expenditures 13 percent in 2015, which came after reductions announced by other major energy companies.