Oil Prices: U.S. economic growth slowed more than expected in the first quarter, but an acceleration in inflation suggested that the Federal Reserve would not cut interest rates before September.
Brent crude futures inched up 18 cents, or 0.2%, to $88.20 a barrel at 0630 GMT, while U.S. West Texas Intermediate crude futures gained 13 cents, or 0.2%, to $82.94 a barrel.
Oil prices steadied on Thursday after settling lower in the previous day, as signs of retreating fuel demand in the US, the world's biggest oil user, contended with widening conflict risks in the key Middle East producing region. Brent crude futures inched up 18 cents, or 0.2%, to $88.20 a barrel at 0630 GMT, while US West Texas Intermediate crude futures gained 13 cents, or 0.2%, to $82.94 a barrel, Reuters reported.
Oil Updates – crude steady as market weighs US demand concerns, Middle East conflict risks arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.