West TX Oil Near $53 on Weaker Dollar

U.S. crude futures climbed towards $54 a barrel in early Asian trade on Wednesday, buoyed by a smaller than expected build in U.S. crude inventories, Middle East tensions and a weaker dollar.

U.S. crude for May delivery rose 15 cents to $53.44 as of 0003 GMT after settling $1.38 higher in the previous session to surge above its 100-day moving average of $52.96.

Brent crude for May delivery climbed 31 cents to $58.74 after rising 50 cents in the previous session. The Brent contract expires on Wednesday.