Key Points
BENGALURU (Reuters) -Oil prices rose by more than a dollar a barrel on Friday as supplies tightened in some parts of the world and U.S. inflation data indicated price rises were slowing...
Brent futures for May delivery, which will expire upon settlement later on Friday, rose 44 cents or 0.6% to $79.71 a barrel...
Data on Friday showed the U.S. Personal Consumption Expenditure (PCE) index, the Federal Reserves preferred inflation gauge, rose 0.3% in February on a monthly basis, compared with a 0.6% rise in January and an expectation of a 0.4% rise in a Reuters poll...
With prices recovering from recent lows, the Organization of the Petroleum Exporting Countries and allies led by Russia are likely to stick to their existing output deal at a meeting on Monday, sources said.. OPEC pumped 28.90 million barrels per day (bpd) this month, a Reuters survey found, down 70,000 bpd from February..
The prolonged economic scarring of the last month will likely slow the economy, if not cause a recession, and lower interest rate expectations are not enough to support oil prices in the short term, said Craig Erlam, senior markets analyst at OANDA...
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