LONDON—Oil prices rose about 1 percent on Thursday, reversing earlier falls, on expectations that U.S. interest rates had peaked, but a lower demand growth forecast for next year from the International Energy Agency and higher U.S. inventories limited further gains.
Brent futures rose $1.01, or 1.20 percent, to $86.83 a barrel at 0952 GMT, while U.S. West Texas Intermediate crude gained 73 cents, or 0.90 percent, to $84.22 a barrel.
