Oil rose to two-month highs on weakening US dollar

International benchmarks for crude oil climbed to two-month highs on Wednesday, 12 January 2022 after the US inflation data pushed the dollar to a two-month low against a basket of currencies. Besides, traders also leverage the latest US crude inventories data, which fell for seven consecutive weeks last week. 

Brent gained 95 cents or 1.1% to $84.67/barrel. 

WTI jumped $1.42 or 1.8% to close at $82.64/barrel.