Oil Prices Rise Amid Optimism Over U.S. Inflation Data

Oil prices increased as market optimism grew following data indicating a general slowdown in U.S. inflation. According to RTHK, this positive sentiment helped recover early losses caused by news that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) might resume production increases. In London, Brent crude closed at $67.75 per barrel, up by 23 cents, marking a 0.3% rise. Meanwhile, New York crude settled at $62.89 per barrel, rising by 5 cents, nearly a 0.1% increase.