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Oil prices rise on moderate US inflation data, strong demand

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TOKYO : Oil prices extended gains from the previous session on Thursday on signs of stronger demand in the U.S. where data showed slower inflation than markets expected, strengthening the argument for an interest rate cut which could result in even stronger demand.Brent futures rose 42 cents, or 0.

TOKYO : Oil prices extended gains from the previous session on Thursday on signs of stronger demand in the U.S. where data showed slower inflation than markets expected, strengthening the argument for an interest rate cut which could result in even stronger demand.

U.S. crude oil, gasoline and distillate inventories fell, reflecting a rise in both refining activity and fuel demand, showed data from the Energy Information Administration . In the Middle East, Israeli troops battled Hamas militants across Gaza, including Rafah which had been a civilian refuge.

 

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