Oil rose as a weaker dollar offset a government report that showed a smaller-than-expected decline in crude stockpiles in the wake of a viral resurgence.
Futures advanced 1.4% after falling as much as 2.4% earlier when the U.S. called on the OPEC+ alliance to revive production more quickly. The dollar weakened, boosting the appeal of commodities priced in the currency, with data showing consumer prices increased at a more moderate pace in July, reducing concern about an unwinding of some of the stimulus.
