US$ helps propel oil to 3-year high as supplies tighten

New York

OIL just got an extra tailwind from a weakening dollar as this month is shaping up to be the best January for black gold in 12 years.

That's because when the greenback is losing value, investors tend to flock to commodities as a store of value, and this is coming on the back of a record streak of declines in American spare supplies of crude.

Futures climbed one per cent on Friday in New York to their high…