NEW YORK | Energy prices rose slightly Tuesday with a majority of futures traders taking the holiday week off, though a stronger dollar helped keep a barrel of oil below $79.
Benchmark crude for February delivery added a dime to settle at $78.87 a barrel on the New York Mercantile Exchange, still the highest close since mid-November. In London, Brent crude for February delivery increased 32 cents to settle at $77.64 a barrel on the ICE Futures exchange.
A rise in the dollar versus other currencies tends to push oil prices lower. Crude is priced in dollars, and investors holding foreign money can't buy as much when the dollar rises.
