5 benefits of a Federal Reserve interest rate hike


Oil prices edge up on strong U.S. economic data, Chinese demand hope

Oil prices edged marginally higher on Friday, extending for a second session on strong U.S. economic data and strengthening hope that the reopening of the Chinese economy would boost demand. Brent futures gained 30 cents, or 0.3%, to $87.66 a barrel by 0113 GMT, while U.S. crude rose 21 cents to $81.22 per barrel, a 0.3% gain. Improving gross domestic product and inflation data in the United States provided hope that the U.S. Federal Reserve could slow its pace of interest rate hikes, reducing fear of curtailment in economic activity and consequent oil demand.