Oil prices ticked higher Wednesday as the dollar fell and analysts said they expect U.S. stockpiles declined last week. Light, sweet crude for February delivery settled up 93 cents, or 1.8%, at $53.26 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, gained 99 cents, or 1.8%, to $56.46 a barrel on ICE Futures Europe. There were few clear reasons behind oil’s movements Wednesday. Early gains came after bullish Chinese economic data and positive signs regarding production cuts from the Organization of the Petroleum Exporting Countries. But many are also skeptical about OPEC’s ability to follow through, which analysts said caused a small retreat later. The dollar also influenced oil trade, analysts said. A weaker U.S. currency makes dollar-traded oil less expensive for foreign buyers, and so its price tends to rise as the dollar falls. The Wall Street Journal Dollar Index, which tracks the U.S. […]