Oil Prices Rise After Positive US Economic Data

OIL PRICE - LONDON. Oil futures rose on Thursday bolstered by slower than expected inflation and a stabilising U.S. job market, providing positive signs for future rate cuts and demand.

Brent crude futures were up 88 cents, or 1.1%, at $83.63 a barrel by 1330 GMT. U.S. West Texas Intermediate crude (WTI) gained $1.09, or 1.4%, to $79.72.