OIL-barrel up to 80 DLRS before U.S. inventories data

Oil rose on Wednesday to the 80 a barrel on a weakening dollar, as investors await data on crude inventories in the United States.

The euro rose after a government source provided details of the Greek government plans to reduce public debt. A weaker dollar lowers the raw materials for holders of other currencies and usually drives oil prices.
U.S. crude rose 13 cents to $ 79.81 a barrel, after having advanced to $ 80.06.
Brent crude surged 8 cents to $ 78.26 a barrel.
"In the medium term, we expect lower prices by weak fundamentals, but by the time a positive tone prevails in the market, so it may be a higher pick," said Carsten Gritsch, analyst at Commerzbank.

The Energy Information Administration of U.S. (EIA in English) will release its weekly report on inventories of crude oil and at 1530 GMT.

Crude stocks have risen by 1.4 million barrels, while distillates were expected to fall 900,000 barrels.