World oil prices rose on Wednesday, but remained below 60 dollars per barrel as traders awaited publication of the weekly US energy stocks report. Skip related content.

Oil had topped 60 dollars on Tuesday for the first time in six months, boosted by a plunge in the greenback that made dollar-priced crude cheaper for buyers armed with stronger currencies.

New York’s main futures contract, light sweet crude for delivery in June, rose 78 cents to 59.63 dollars a barrel on Wednesday. The contract had struck 60.08 on Tuesday, reaching the highest level since mid-November.

The price of London Brent North Sea crude for June delivery gained 84 cents to 58.78 dollars per barrel.

“It was no surprise to see crude continuing to edge higher in a move triggered as usual by further weakness in the US dollar,” said ODL Securities analyst Marius Paun.

“This price advance in crude is difficult to justify as market participants keep ignoring the present supply versus demand clash and rather focus on hopes of better days ahead.”

Later Wednesday, the US government’s Energy Information Administration (EIA) will publish its weekly report on American crude oil inventories for the week ending May 8.

“Today’s EIA stats are expected to show a small build in crude stocks but its impact could be limited if any, given the strong buying momentum,” Paun added.