Oil Benchmark Brent Hovers Above $80 After Pricing in US Data

Oil Benchmark Brent Hovers Above $80 After Pricing in US Data
A view of the Johan Sverdrup oilfield in the North Sea, on Jan. 7, 2020. Carina Johansen/NTB Scanpix/via Reuters
Reuters
Updated:

LONDON—Global oil benchmark Brent hovered above $80 a barrel on Thursday after U.S. inflation data implied interest rates in the world’s biggest economy are close to their peak.

Data released on Wednesday showed U.S. consumer prices rose modestly in June and registered their smallest annual increase in more than two years as inflation continued to subside.