77% of retail CFD accounts lose money. Trade Crypto CFDs on Plus500’s advanced platform!LONDON -Oil prices rose on Friday but were headed for their first weekly loss in three weeks as worries about inflation and China's COVID lockdowns slowing global growth offset concerns about dwindling supplies from Russia. Brent crude futures were up 85 cents, or 0.8%, at $108.30 a barrel at 0900 GMT, while U.S. West Texas Intermediate crude futures climbed 64 cents, or 0.6%, to $106.77 a barrel.
Consumer prices have increased around the world as Russia's invasion of Ukraine pushed up crude oil and food grain price rises to record highs, prompting many central banks to raise interest rates. Consumer price index-based inflation rose more than expected to 7.79% in April year-on-year, remaining above the Reserve Bank of India's tolerance band of 6% for a fourth month in a row, data released by National Statistics Office showed on Thursday.