Fresh fund inflows from the investors have pushed the oil prices to 18-month high on Thursday.
This was a strange shift that came instead of the strong dollar.
As per the reports, the U.S. crude oil rose 68 cents to $84.44/barrel in the morning trade after hitting an intraday high of $84.54. Then it was settled at $83.76/barrel on Wednesday, which was the highest close since October 2008.
Similarly, London ICE Brent climbed 66 cents to $83.36.
"Upward momentum is very strong," said Eugen Weinberg, head of commodities research at Commerzbank in Frankfurt.
"The market is rising even with a stronger dollar and even after what were bearish figures on U.S. inventory levels," he said.
"Money is flowing into commodities at the beginning of the new quarter from all sorts of investors, including funds," he added.
Oil prices gained stronger after the news of rising in U.S. crude inventories.
