Oil prices hit nearly 3-month high as US inflation eases

Brent crude futures rose US$1.25, or 1.6%, to settle at US$81.36 per barrel, while the US West Texas Intermediate crude futures rose US$1.14, or 1.5%, to US$76.89.

NEW YORK: Oil prices rose over 1% on Thursday to their highest in nearly three months after US inflation data suggested interest rates in the world's biggest economy were close to their peak.

Brent crude futures rose US$1.25, or 1.6%, to settle at US$81.36 per barrel. The session peak was US$81.57, the highest since April 25.