(Reuters) - Oil prices rose sharply on Wednesday, with benchmark Brent crude up 4 percent, after the dollar fell as the Federal Reserve indicated it preferred a more gradual path to normalizing U.S. interest rates despite being open to the first rate hike in almost a decade.
Brent was up $2 at $55.51 a dollar by 2:27 p.m. EDT, after rallying to $56 earlier.
U.S. crude was up 85 cents at $44.31.
(Reporting By Barani Krishnan; Editing by Chizu Nomiyama)
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