2024-04-26 21:50:00
U.S. West Texas Intermediate crude futures rose 28 cents, or 0.34 percent, to $83.85 a barrel.
Oil prices today
Supply issues have helped support prices amid ongoing tensions in the Middle East.
Inflation in the United States rose 2.7 percent on an annual basis through March, following rising 2.5 percent through February.
Last month’s increase was broadly in line with economists’ expectations.
Interest rate forecasts
The Council is expected to keep interest rates unchanged at next week’s monetary policy meeting, while the Federal Reserve (the US central bank) aims to reduce inflation to 2 percent.
US Treasury Secretary Janet Yellen had indicated that US GDP growth in the first quarter of the year might be subject to an upward adjustment and that inflation would fall following a set of “distinctive” factors that pushed the economy at its weakest performance in almost two years. years.
It is also likely that US economic growth will be stronger than indicated by quarterly data, which turned out to be weaker than expected.
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