Oil Prices Edge Up as Demand Concerns Duel with Rate Cut Optimism

OIL PRICE - LONDON. Oil prices ticked up on Thursday as optimism built that potential U.S. interest rate cuts will boost economic activity and fuel consumption, but concerns over slower global demand curbed gains.

Brent crude futures LCOc1 were up 51 cents, or 0.6%, at $80.27 a barrel at 1107 GMT, recovering some of the previous day's losses. U.S. West Texas Intermediate crude futures CLc1 were up 47 cents, or 0.6%, at $77.45 per barrel.