Oil prices pulled back on Wednesday, weighed down by rising interest rates and concerns over the ability of major players to cut production. Light, sweet crude for January delivery settled down $1.94, or 3.7%, at $51.04 a barrel on the New York Mercantile Exchange, breaking a four-day winning streak in its biggest one-day decline since July. Brent, the global contract, settled down $1.82, or 3.3%, to $53.90 a barrel. A pumpjack south of Odessa, Texas. Donald Trump’s choices of Exxon Mobil Chief Executive… On Wednesday, the Federal Reserve announced that it will raise interest rates by 25 basis points, prompting a reversal in the U.S. dollar. The WSJ Dollar Index was recently up 0.7% at 91.97. A stronger dollar is bearish for crude, which is priced in the U.S. currency and becomes more expensive for foreign investors. The dollar has risen to multiyear highs following the U.S. presidential election, […]