Oil futures found their footing after a dollar rally stalled in the wake of the minutes from the Federal Reserve’s October policy meeting. The dollar initially jumped after the minutes showed “most” members of the rate-setting committee saw scope to deliver a rate rise in December, but dollar gains were short lived in an apparent rush of profit taking.
West Texas Intermediate crude for December delivery CLZ5, +0.71% ended with a gain of 8 cents, or 0.2%, at $40.75 a barrel, after earlier dipping as low as $39.91 a barrel.
January Brent crude futures LCOF6, +0.86% on the Intercontinental Exchange rose 57 cents, or 1.3%, to end at $44.14 a barrel.
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