Oil prices rise on news from U.S.

REUTERS

September crude was at $48.13 a barrel, up 15 cents, or 0.3%, on the New York Mercantile Exchange, according to the report.

Gasoline supplies fell on a supply-growth forecast.

A stronger dollar also exerts pressure on oil prices: the U.S. dollar exchange rate versus a basket of six other major currencies rose by 0.24% as the Federal Reserve published results of its meeting announcing it would continue to hold interest rates at a record low – 0-0.25% per annum, in line with analysts' forecast. The Federal Reserve intends to consider a rate increase if the situation in the labor market improves. However, specific terms have not been disclosed.