Oil above $91 on hope for Europe rate cut

http://finance.yahoo.com/news/oil-above-91-hope-europe-rate-cut-165251966--finance.html

The daily oil gains haven't raised this high since December due to the expectations surrounding talks about the European Central Banks cutting interest rates. Oil supplies have increased 900,000 barrels (0.2%) and set to increase even more to 1.4 million barrels according to analysts. Our national average for prices at the pump is $3.52, which according to records is 33 cents cheaper than last year. The strength of the dollar is also a reason for why we see this increase in oil. Due to the fact that oil trade is done in dollars, it become easier and easier as the dollar value decreases for countries with stronger currencies to buy more oil.