Oil Updates – crude edges up; markets shrug off China inflation data, eye fresh drivers

SINGAPORE: Oil prices edged up on Thursday as markets shrugged off deflationary indicators in China and looked for further clues on the status of demand from the world’s two biggest oil consumers, according to Reuters.

Brent crude futures rose 67 cents, or 0.8 percent, to $80.21 a barrel by 10.30 a.m. Saudi time. US West Texas Intermediate crude futures climbed 56 cents, or 0.7 percent, at $75.89 a barrel.