Stocks benefiting from Trump's election, the so-called "Trump Trade," calmed down the strong dollar, which led to an inflow of buying into crude futures, which ended higher New York oil prices.
On the New York Mercantile Exchange, West Texas Intermediate for December delivery rose $0.67 and 0.93% to settle at $72.36 a barrel.
Brent crude oil for January delivery, which is subject to international market comparisons, closed at $75.63 a barrel, up $0.71 and 0.95% from the previous session.
Oil prices rose reflexively as the dollar index, which soared 1.6% the previous day, fell 0.73% to 104.3 levels.
As crude oil is denominated in dollars, a rise in the value of the dollar could dampen demand for crude oil from raw buyers using other currencies.
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