Oil Rises Further on Strong Demand, Weaker Dollar

Oil prices rose further in early Asian trade on Thursday, adding to a more than 3 percent increase from the previous session. The gains were fueled by record U.S. oil exports and a weaker U.S. dollar.

By 7.15 A.M. (Thai time), Brent crude futures had risen 25 cents, or 0.3%, to $95.94 per barrel. U.S. West Texas Intermediate (WTI) crude rose 19 cents, or 0.2%, to $88.10.

Weekly government statistics released on Wednesday showed a 2.6 million barrel increase in U.S. oil stocks last week, with crude exports hitting a record high of 5.1 million barrels per day.