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Oil Prices: U.S. inflation rose 2.7% in the 12 months through March, data on Friday showed, above the Fed s target of 2%. Lower inflation would have increased the likelihood of interest rate cuts, which would stimulate economic growth and oil demand. ....
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. ....
Oil Prices: Investors are also concerned that Iranian retaliation against Israel for an attack on Monday that killed high ranking military personnel could potentially lead to supply disruptions in the key Middle East producing region after it vowed revenge. Iran, who provides support of the Hamas militia fighting Israel in Gaza, is the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC). ....
Oil Update: "A significant drop in the U.S. oil inventories and expectations of China s economic recovery and more stimulus measures supported oil prices," said Toshitaka Tazawa, an analyst at Fujitomi Securities. ....