Oil prices rise after FBI clears Clinton in email probe

Oil prices climbed on Monday after the Federal Bureau of Investigation (FBI) again cleared Democratic presidential nominee Hillary Clinton over her use of a private server, smoothing market concerns over the instability of the economy if her Republican rival Donald Trump gets elected.

FBI Director James Comey on Sunday informed U.S. House members that the FBI has not changed its July advice not to charge Clinton over her use of personal email server during her stay in the State Department.

In a letter to several members of Congress, Comey said the agency had finished its review and found nothing to change its position.

The news greatly boosted Clinton' s campaign before Tuesday' s U.S. presidential election, sending the U.S. oil price up nearly 2 percent on Monday.

Analysts said investors in general view a Clinton victory as the better outcome, as it presents fewer unknowns and possibly more stability for markets than the winning of Donald Trump.

Meanwhile, the gains of oil prices were capped by a rally dollar on Monday as a stronger greenback dented market demand for the dollar-priced commodity.

The West Texas Intermediate for December delivery added 0.82 U.S. dollars to settle at 44.89 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery increased 0.57 dollar to close at 46.15 dollars a barrel on the London ICE Futures Exchange. Enditem