Oil Rises as Dollar’s Decline Increases Demand for Commodities

July 27 (Bloomberg) -- Crude oil rose to the highest in more than three weeks after investors sought commodities as a hedge against inflation as the dollar traded near a seven-week low against the euro.

Crude oil for September delivery gained as much as 60 cents, or 0.9 percent, to $68.65 a barrel in after-hours electronic trading on the New York Mercantile Exchange. That’s the highest intraday price since July 2. It was at $68.42 a barrel at 9:25 a.m. in Singapore. The contract earlier fell as much as 0.5 percent to $67.68 a barrel.