Oil Prices Rise by about 2 Percent after US Economic Data

Oil prices rose by more than a dollar Thursday, after US economic data eased fears of an imminent recession in the United States, the world's largest economy, but continued concerns about slowing global demand limited gains. Brent crude futures rose $1.51, or 1.89 percent, to $81.27 a barrel, while US West Texas Intermediate (WTI) crude futures rose $1.44, or 1.87 percent, to $78.42 a barrel. Source : Qatar News Agency