Investing.com - Crude oil futures rose around half a dollar on Wednesday and remained near 2016 highs on the back of strong investor sentiment and a weak dollar, although analysts warned this month's bull-run could soon run out of steam.
Brent crude futures were trading at $46.54 per barrel at 09:08GMT, up 96 cents, from their last settlement.
U.S. crude was up 84 cents, at $44.88 a barrel.
Analysts said crude was being lifted by a falling dollar, which has shed 5% in value against a basket of other leading currencies since the beginning of the year.
A weak dollar makes fuel imports cheaper for countries using other currencies, potentially spurring demand.
Prices were also boosted after the American Petroleum Institute reported a draw of nearly 1.1 million barrels in U.S. crude inventories last week versus analysts' expectations for a 2.4 million-barrel build.