By Barani Krishnan NEW YORK (Reuters) - Oil prices jumped as much 3 percent on Tuesday as a weaker dollar propped up commodities priced in the currency, prompting short-covering in a market that has sold off with little pause over the past seven months. An updated Reuters poll showed U.S. crude inventories rose 4.1 million barrels, on average, in the week to Jan. 23. The American Petroleum Institute (API), an industry group, will release its weekly inventory report at 2130 GMT. "Given the expectations in supply, it's kind of surprising to see the market pop this much today," said Andrew Lipow, president at Lipow Oil Associates in Texas.
In the wild world of winter weather, location is everything. So small last minute changes in the air morphed what was supposed to be crippling feet of snow into a handful of inches, leading forecasters to apologize, politicians to explain themselves and some Northeast residents wondering where the much-hyped snow went.