Better-Than-Expected Inflation Data Sparks Hope For Oil Markets ...Middle East

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Better-Than-Expected Inflation Data Sparks Hope For Oil Markets
source : OILPRICE ( Middle East ) () 18
U.S. West Texas Intermediate crude oil futures closed higher on Thursday after recapturing earlier losses. The catalyst behind the price reversal was milder-than-expected U.S. consumer inflation data. The economic news offset worries over renewed COVID-curbs in China and their potential effect on fuel demand, triggering an intraday short-covering rally. Crude Oil Rises after Light Consumer Inflation Report October’s consumer price index rose just 0.4% for the month and 7.7% from a year ago, its lowest annual increase since January and a slowdown…

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