Oil prices rise on weak dollar

NEW YORK. KAZINFORM Oil prices climbed on Wednesday as the U.S. dollar declined against most major peers.

The dollar was under pressure on Wednesday as the Federal Reserve decided to keep interest rates unchanged after concluding its two-day monetary policy meeting.

The dollar index, which tracks the greenback against six major peers, was down 0.15 percent at 92.314 in late trading, Xinhua reports.
Oil prices were supported as a weaker dollar made the dollar-priced oil more attractive for holders of other currencies.

On the data front, crude stockpiles posted a surprise build of 6.2 million barrels in the week, according to the weekly report by Energy Information Administration on Wednesday.