Oil Prices Rise on Weak Dollar Despite Storage Build

Oil prices rose as the dollar declined, making commodities priced in dollars more expensive.
Benchmark Brent crude rose above $80 a barrel while WTI topped $75.
A larger-than-expected 6 million barrel crude inventory build was ignored by the market.
Gold and silver prices also moved higher as the dollar weakened versus other currencies.
Cooling inflation data reinforced hopes the Fed may slow its interest rate hikes, boosting oil.