Crude Oil is trading today in the European session above the $78 level.
Crude prices increased on Friday, setting the stage for weekly gains driven by indications of rising demand and slowing inflation in the United States, the world's largest crude consumer.
Oil markets have benefited from the softer-than-expected inflation data, which has raised the likelihood of lower interest rates, potentially enhancing future global economic activity and oil demand.
Additionally, a decrease in U.S. oil inventories has strengthened optimism about improving demand, particularly with the travel-heavy summer season approaching.
