News Oil Updates – crude higher on strong US demand, Fed policy in focus

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SINGAPORE: Oil prices rose on Wednesday on expectations of strong global demand, including in the world’s top consumer the United States, and as even somewhat sticky US inflation did not significantly alter expectations the Fed might start cutting rates soon, according to Reuters.

Brent futures for May delivery rose 46 cents, or 0.6 percent, to $82.38 a barrel by 7:00 a.m. Saudi time. April US West Texas Intermediate crude contract gained 47 cents, or 0.6 percent, to $78.03.

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