US STOCKS-Wall St gains as oil prices grind higher
* Oil prices hit 2016 highs
* Railroad operators CSX, Norfolk, Union Pacific gain
* AbbVie drops on downgrade, biggest drag on S&P
* Indexes up: Dow 0.25 pct, S&P 0.22 pct, Nasdaq 0.21 pct (Updates to early afternoon)
By Yashaswini Swamynathan
June 8 (Reuters) - Wall Street was higher in a narrow trading range early on Wednesday afternoon, with the S&P 500 inching towards its all-time high, as oil prices hit 2016 highs above $50 a barrel.
A weaker dollar helped boost oil, copper and gold prices, while aluminum climbed to the highest levels in nearly a month.
Oil prices were up for a third consecutive day, also helped by supply outages. They had earlier pared gains after U.S. data showed a surprise build in gasoline supplies.
Commodity-sensitive industrial and materials stocks benefited. Continuación...