Investing.com -- Oil prices settled higher Friday, wrapping up the week with a win as signs of slowing U.S. inflation boosted rate cut hopes just as China rolled out more stimulus, giving a big boost to hopes for firmer demand.
Inventories of U.S. crude unexpectedly rose by 1.23M barrels for the week ended Jan. 29, confounding expectations for a draw of 217,000 barrels, according to Wednesday data from the Energy Information Administration.
The global growth outlook was given a boost, helping to ease concerns about crude demand.