Oil prices rise as US official eases market concerns over economic headwinds

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Two youths charged with second degree murder | SaltWire #newsupdate #halifax #police #newstoday - Oil prices rose in early trade on Friday, as players took stock of the U.S. Treasury secretary's comments that the country's economy is likely in a stronger position than indicated by weak first-quarter data, coupled with supply concerns as conflict continues in the Middle East.Brent crude futures gained 34 cents, or 0.38%, to $89.35 a barrel at 1211 GMT, and U.S.

Yellen said U.S. GDP growth for the first quarter could be revised higher after more data is in hand, and inflation will ease to more normal levels after a clutch of"peculiar" factors held the economy to its weakest showing in nearly two years. Personal consumption expenditures inflation data for March will be released on Friday, closely tracked by the Fed for its 2% target.

 

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