Brent oil futures rose to $56 a barrel on Thursday, as a weakened dollar and industry spending cuts offset worries of a supply glut after U.S. crude inventories increased for a fifth consecutive week. The dollar fell 0.25 percent against a basket of currencies .DXY, making dollar-traded commodities such as oil more attractive. “The dollar is weaker against all the commodities at the moment,” said Michael Hewson, chief analyst at CMC Markets. “We saw a heavy selloff in commodities yesterday and I think that’s why we’re getting a little bit of a rebound in oil prices on the back of that.” March Brent futures LCOc1 were up $1.38 at $56.04 a barrel by 0938 GMT (04:38 a.m. EST), following a 3 percent loss in the previous session that saw prices break below $54 at one point. U.S. March crude futures CLc1 were trading up $1.58 at […]