KONTAN.CO.ID - BENGALURU. Oil prices nudged higher on Friday with U.S. inflation data showing some signs of slowing price rises, but for the month, oil was on course for its weakest performance since November. Brent futures, which have risen nearly 6% this week, were up 26 cents, or 0.3% at $79.53 a barrel by 10:56 a.m. EDT (1456 GMT). West Texas Intermediate crude (WTI) rose 37 cents, or 0.5% to $74.74, having gained about 8% so far this week. If those levels hold, oil prices will record their second straight week of gains, but Brent and WTI were also set for losses of about 5% and 3%, respectively.
Oil Ticks Up as US Inflation Cools, but Set to End March Lower
KONTAN.CO.ID - BENGALURU. Oil prices nudged higher on Friday with U.S. inflation data showing some signs of slowing price rises, but for the month, oil was on course for its weakest performance since November. Brent futures, which have risen nearly 6% this week, were up 26 cents, or 0.3% at $79.53 a barrel by 10:56 a.m. EDT (1456 GMT). West Texas Intermediate crude (WTI) rose 37 cents, or 0.5% to $74.74, having gained about 8% so far this week. If those levels hold, oil prices will record their second straight week of gains, but Brent and WTI were also set for losses of about 5% and 3%, respectively.