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Oil Rises as US Dollar Falls Amid Cooling Middle East Tensions

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By Adedapo Adesanya Oil rose by 1 per cent per barrel on Tuesday as the US Dollar index fell to its lowest in over a week after investors shifted focus away from geopolitical issues in the Middle East to the state of global economies. The price of Brent crude futures was up by $1.04 or 1.2 per cent yesterday to $88.04 a barrel, and the US West Texas Intermediate (WTI) crude futures increased by $1.10 or 1.3 per cent to $83.00 a barrel. According to the S&P Global data, the US Dollar index weakened after business activity in the world’s largest