Oil Settles Higher As Dollar Drops In Wake Of Fed Statement

MarketWatch Pulse

Oil futures settled higher on Wednesday as a drop in the dollar following the Federal Reserve's policy statement offset earlier pressure from a 10th straight weekly rise in U.S. crude inventories. April crude rose $1.20, or 2.8%, for the session to settle at $44.66 a barrel on the New York Mercantile Exchange. Prices were trading around $42.60 before the Fed news.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below