Oil prices higher on Fed comments on inflation, Middle East tensions

SINGAPORE: Oil prices edged higher on Friday after minutes from a Federal Reserve meeting suggested inflation was under control and as U.S. Secretary of State Antony Blinken prepared to visit the Middle East to try and prevent the Israel-Gaza conflict from widening.

Brent crude futures were up 32 cents, or 0.4%, to $77.91 a barrel, while U.S. West Texas Intermediate crude futures rose 43 cents, or 0.6%, to $72.62 at 0739 GMT.