Oil prices rose in early Asian trade on Thursday after US inflation and economic data sparked hopes the Federal Reserve may have fewer interest rate hikes in store for the world’s biggest economy.
Brent crude futures rose 6 cents to USD 80.17 per barrel and US West Texas Intermediate crude futures were up 4 cents, or USD 75.79.
US data on Wednesday showed consumer prices rose modestly in June, registering the smallest annual increase in more than two years.
Source: Qatar News Agency