A dollar sign is pictured in a UNICEF brochure in their offices in Geneva, Switzerland, January 30, 2017. REUTERS/Denis Balibouse
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Oil advanced as the dollar weakened against its peers, spurring a rally in raw materials. Futures rose as much as 1.8 percent in New York. Seaway Crude Pipeline Co.'s 400,000-barrel-a-day Legacy line shut after it was ruptured by road workers near Dallas, cutting crude flows to the Gulf Coast.West Texas Intermediate for March delivery rose 86 cents, or 1.6 percent, to $53.49 a barrel at 11:32 a.m. on the New York Mercantile Exchange.Brent for March settlement, which expires Tuesday, climbed 73 cents, or 1.3 percent, to $55.96 a barrel on the London-based ICE Futures Europe exchange. U.S. crude supplies probably expanded by 3 million barrels last week, according to the median estimate in a Bloomberg survey before an Energy Information Administration report on Wednesday.
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