Oil prices recorded, on Wednesday, an increase at the settlement, after inflation data in the United States reinforced hopes that the Federal Reserve (the US central bank) may raise interest rates less times in the future.
Brent crude recorded $80 a barrel for the first time since last May, indicating a shortage of supplies as inflation in the United States declined by more than expectations.
Brent crude futures rose 71 cents, or 0.9 %, to settle at $80.11 a barrel.
West Texas crude futures rose 92 cents, or 1.2 %, to $75.75 a barrel.
Source: National Iraqi News Agency