Channel News Asia | Oil Erases Gains as Dollar Strengthens Wall Street Journal NEW YORK—Oil prices fell Wednesday, erasing earlier gains, as a strong dollar outweighed signs of robust demand for refined products such as gasoline. U.S. crude for June delivery settled down 12 cents, or 0.2%, at $48.19 a barrel on the New York ... Oil retreats as dollar gains on Fed rate speculation Oil prices edge lower, pushed down by stronger dollar |