Oil Hits October High as Traders Weigh Iran Risk, US Freeze

Oil rose to the highest since October as US President Donald Trump touted a growing US military presence near Iran, while traders monitored the fallout from a sweeping winter storm and a weaker dollar boosted the appeal of commodities. West Texas Intermediate gained 2.9% to settle above $62, while a gauge of the greenback fell to its lowest level in four years amid investor caution about US policymaking, making commodities priced in the currency more attractive. Most Read from Bloomberg Oil has rebound ...