WASHINGTON (dpa-AFX) - Oil prices rose on Monday after three days of losses on worries that interest-rate hikes would slash global fuel demand.
Brent crude futures for October delivery rose 0.8 percent to $99.18 per barrel, while WTI crude futures were up 0.9 percent at $95.56.
The recovery came as investors balanced supply fears with expectations around inflation and interest-rate hikes.
With oil and other commodity prices falling from recent highs, investors are pinning hopes that some of the upward pressure on headline inflation figures would ease in the coming months.
The U.S. Federal Reserve is expected to slow the pace of interest-rate increases after delivering a second straight 75-bps rate hike on Wednesday.
Elsewhere, China's new COVID-19 cases eased to the lowest tally in more than a week, as Macau ramped up testing and Hong Kong introduced a new online health declaration system that will go live on a trial basis starting Thursday.
Analysts expect Libya's oil output to remain volatile as tensions are still high.
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