HOUSTON: Oil prices settled higher on Friday, garnering support from tensions in the Middle East, but a strong dollar and US inflation data quashed hopes that the Federal Reserve would cut interest rates soon, giving prices a ceiling.
Brent crude futures settled up 49 cents, or 0.55%, to US$89.50 a barrel. US West Texas Intermediate crude futures settled up 28 cents, or 0.34%, to US$83.85 a barrel.
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