Oil Updates — Crude up; Libyan oil chief rejects removal; US official says Russian oil price cap can fight inflation

RIYADH: Oil prices rose on Thursday, with Brent breaking above $100 a barrel, as investors weighed tight supplies against the prospect of a large US rate hike that would stem inflation and curb crude demand. Brent crude futures for September climbed 68 cents, or 0.7 percent, to $100.25 a barrel by 0400 GMT after settling below $100 for the second straight session on Wednesday.

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