Oil futures rose modestly Tuesday as investors focused on the dollar's latest decline rather than new worries about the economy. Gas and diesel prices, meanwhile, retreated further from their recent record levels.
The dollar's decline against the euro, which ended a greenback rally that began last week, attracted investors back to oil. The U.S. currency's protracted slide was a big contributor to oil's march to nearly $112 in recent weeks; many investors regard oil and other commodities as inflation hedges, and turn to such hard assets when the dollar is falling.
But oil's slight gain was far from definitive, and followed a session in which prices …
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