Oil prices fell slightly in early Asian trade on Friday as optimism that a U.S. debt default will be avoided weighed against sticky inflation data that could portend more interest rate hikes from global central banks.Brent futures were down 2 cents at $75.84 a barrel as at 0015 GMT. U.S. West Texas Interm
Oil prices fell slightly in early Asian trade on Friday as optimism that a U.S. debt default will be avoided weighed against sticky inflation data that could portend more interest rate hikes from global central banks.
Earlier this week, U.S. President Joe Biden and Speaker of the House of Representatives Kevin McCarthy reiterated their aim to strike a deal soon to raise the $31.4 trillion federal debt ceiling, and agreed to talk as soon as Sunday. A stronger dollar can weigh on oil demand by making the fuel more expensive for holders of other currencies.
Japan's core consumer prices rose 3.4 per cent in April from a year earlier, government data showed on Friday.
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