Oil rises on weakening dollar, but plentiful supplies cap gains

By Henning Gloystein SINGAPORE (Reuters) - Oil prices rose on Thursday, driven up by a weakening dollar, but gains were capped by plentiful supplies and inventories despite an effort by OPEC and other producers to cut output and prop up the market. Brent crude futures , the international benchmark for oil prices, were trading at $55.56 per barrel at 0801 GMT, up 48 cents, or 0.87 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $53.19 a barrel, up 43 cents