Oil prices rose on Friday, Brent crude at $91.39

Oil futures prices rose during trading on Friday, but they are heading towards achieving weekly losses amid investor concern about demand, increased supply and fears of a rise in the pace of monetary tightening.

By 7:48 am GMT, Brent crude for November 2022 delivery rose 0.61%, recording $91.39 a barrel, an increase of $0.55 a barrel.

And US consumer prices recorded a surprising rise in August on a monthly basis, as the decline in gasoline prices was offset by a rise in rent and food costs, giving cover for the Federal Reserve to announce another significant increase in interest rates next Wednesday.

Categories Economy Tags Brent crude, oil prices