Oil Settles Above $50 As Heating Oil, Gasoline Rally

Oil futures climbed past $50 a barrel on Wednesday, finding support from a weaker U.S. dollar as prices for heating oil and gasoline rallied. Prices for oil climbed even though the Energy Information Administration reported the seventh straight weekly climb in U.S. crude supplies. April crude rose $1.71, or 3.5%, to settle at $50.99 a barrel on the New York Mercantile Exchange. March heating oil added 3.7% to end at $2.104 a gallon and March gasoline settled at $1.719 a gallon, up 6.1%.