US oil prices closed at their highest level in more than a year Wednesday on a mixed day for global equities as the dollar continued its upward climb.
The US futures benchmark, West Texas Intermediate for delivery in November, jumped 3.6 percent to $93.68 per barrel as traders begin to eye $100 oil.
The rise came on the heels of a surprising drop in US crude inventories. Oil prices have been trending higher following moves by Russia and Saudi Arabia to limit output.