Brent crude oil prices continue to rise!

The price of a barrel of Brent crude is trading at $77.42 in international markets.

After rising to $78.73 yesterday, the price of a barrel of Brent crude closed the day at $76.80. As of 09:53 today, the price of a barrel of Brent crude increased by 0.80 percent compared to the closing price, reaching $77.42. At the same time, a barrel of West Texas Intermediate (WTI) crude was finding buyers at $71.93.

ALL EYES ON US INFLATION

Oil prices continue to rise ahead of inflation data to be released today in the US, the world's largest oil-consuming country.

Analysts state that the Consumer Price Index data to be released in the US could shape the future interest rate decisions of the US Federal Reserve (Fed).