US crude climbs towards $93 on inventory draw down

SINGAPORE: US crude futures rose for the second straight session on Wednesday after data showed a larger than expected drawdown in crude inventories in the world's largest economy.

But the climb was capped as the US dollar jumped to a 14-month high against the euro on Tuesday, with investors betting the Federal Reserve would hike interest rates earlier than expected.

A stronger dollar makes commodities priced in the greenback more expensive for holders of other currencies.