Oil prices rose in early Asian trading today after inflation and economic data in the United States raised hopes for a slower pace of the Federal Reserve raising interest rates in the world’s largest economy.
Brent crude futures rose six cents to $80.17 a barrel by 00:04 GMT. US West Texas Intermediate crude futures rose four cents to $75.79, reports Al-Rai daily quoting Reuters.
US data showed on Wednesday that consumer prices rose slightly in June, recording the smallest annual increase in more than two years.