Select Commodities – Outlook • Crude Oil Trades Near $79 on Recovery Optimism. Weaker Dollar - Crude oil traded near $79 a barrel in New York after rising the most in six weeks on optimism fuel demand will invrease amid improved prospects for an economic recovery in the U.S., the world's biggest energy consumer. Oil prices eased today as traders sold futures to lock in yesterday's 3.3 percent gain as equities climbed to 13-month highs.