Oil Prices Rally On U.S. Outages And A Weak Dollar

After slipping late on Tuesday after a surprise U.S. inventory build reported by the API, oil prices rose on Wednesday morning, supported by the slow restart of the U.S. oil production lost during the Texas Freeze and a weaker U.S. dollar. Before the EIA inventory report, WTI Crude and Brent Crude benchmarks were both trading up by 2 percent at 10:28 a.m. ET, with Brent at over $66 and the U.S. benchmark trading at $62.80. Earlier on Wednesday, oil prices were struggling for direction, but firmed up in the morning Eastern Time after the U.S. dollar…