Oil futures settled higher Wednesday as support from some softening of in the dollar and expectations for a seventh-straight weekly decline in U.S. crude inventories offset pressure from a potential slowdown in fuel demand.Crude oil for August delivery CLQ6, +0.44% rose 83 cents, or 1.8%, to settle at $47.43 a barrel on the New York Mercantile Exchange. Prices, which had touched a low of $45.92 early Wednesday, had marked its lowest settlement since June 27 on Tuesday, according to FactSet data. Brent oil for September LCOU6, +0.35% added 84 cents, or 1.8%, to $48.80 a barrel on the ICE Futures exchange in London.
August futures prices for gasoline RBQ6, +1.27% added less than half a cent to $1.433 a gallon, after sinking 5.6% a day earlier. August heating oil HOQ6, +0.76% settled up 2.6 cents, or 1.8%, at $1.471 a gallon.
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