Nymex Oil Futures Rebound From Earlier Declines

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(SAN FRANCISCO -- Oil futures reversed course during Tuesday's trading to settle higher for a third straight session. As the Federal Open Market Committee pushes the agenda on a "fed funds hike, then U.S. Treasury prices go down and demand for the U.S. dollar goes down," said Richard Hastings, macro strategist at Global Hunter Securities. "This weakens the U.S. dollar and supports oil prices." March oil tacked on 75 cents, or 1.4%, to settle at $53.53 a barrel on Nymex.

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