New York-SANA
Oil ended Tuesday's trading above $80 a barrel and recorded its biggest daily gain in more than a month, as investors flocked to risky assets after US data indicated slowing inflation.
Reuters reported that Brent crude futures closed at $80.68 a barrel, up $2.69, or 3.5 percent, and West Texas Intermediate crude futures closed at $75.39 a barrel, up $2.22, or three percent.
Both contracts recorded their biggest daily gains since the fourth of November, and the dollar index fell today after data showed that consumer price inflation in the United States rose less than expected last month, which reinforced expectations that the Federal Reserve would slow the pace of its interest rate hikes and make oil cheaper. For holders of other currencies, what may raise demand.
