Oil prices were mostly steady on Wednesday as the market waited for US inflation data later in the day that will likely influence the Federal Reserve’s policy on future interest rate hikes.
Brent crude edged up 3 cents to $85.64 a barrel as of 0403 GMT, while US West Texas Intermediate dipped 2 cents to $81.51 a barrel.
Prices had risen about 2 per cent on Tuesday amid optimism that the US Federal Reserve is getting closer to ending its cycle of interest rate hikes, making dollar-priced oil cheaper for buyers holding other currencies.
