Oil prices rose during trading on Thursday, the twenty-eighth of March, after falling for two consecutive sessions, due to the sudden rise in US oil inventories.
U.S. inventories are expected to rise below normal as the global oil market suffers from a slight deficit, amid expectations that this will support the price of Brent crude in the future.
The US Federal Reserve Board of Governors said that the latest disappointing inflation data confirms the bank's justification for delaying the short-term rate cut, but it is not unlikely to cut it later in the year.
Source (CNBC Arabia website, Edited)
