Singapore — Oil prices inched up on Monday, supported by a weaker dollar and the expectation that Opec and other producers will cut output as part of a deal to curb global oversupply. Brent crude futures, the international benchmark for oil prices, were trading at $55.64 a barrel at 3.44am GMT, up 19c from their last close. US West Texas Intermediate (WTI) crude futures were up 17c at $52.54 a barrel. Traders said that prices were buoyed by a weakening dollar, which made fuel purchases cheaper for countries that used other currencies domestically, potentially spurring demand. After spending much of the second half of 2016 in an upward trend, the dollar has fallen around 2.5% against a basket of other leading currencies since its early-January peak. The greenback is in particular focus for international investors this week as Donald Trump is set to take office as the next US president on Friday. "Oil pricing will be driven this week by the movement of the US dollar rather than crude ...
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