Oil settles higher

Oil rose Thursday in volatile trading to settle near US$99 per barrel, with a weaker dollar offsetting concerns about a slowdown in world demand.

Benchmark crude for June delivery gained 76 cents to settle at US$98.97 per barrel on the New York Mercantile Exchange.

In other Nymex trading for June contracts, gasolene fell 5.89 cents to settle at US$3.0639 per gallon and heating oil gained 1.54 cents to settle at US$2.9137 per gallon.

In London, Brent crude rose 19 cents to settle at US$112.98 per barrel on the ICE Futures exchange.