Oil higher on strong US demand, Fed policy in focus
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Oil prices rose on expectations of strong global demand, including in the US. Brent futures for May delivery rose 0.6% to $82.38 a barrel. The Organization of the Petroleum Exporting Countries (OPEC) maintained its forecast of strong oil demand growth globally. US crude oil inventories and fuel inventories fell last week. Analysts believe the Federal Reserve may start cutting rates in the summer despite rising US consumer prices. Capital Economics forecasts the Fed to start easing policy around June. Oil prices were under pressure in the previous session after the US Energy Information Administration raised domestic oil output forecast.

#OilPrices #UsDemand #FedPolicy #Opec #UsCrudeOilInventories #FuelInventories #FederalReserve #CapitalEconomics #UsEnergyInformationAdministration

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