Pressure under oil prices lightens slightly resulting from factors including forecast inflation an associated concerns about significant interest rate hikes.

A barrel of European reference oil Brent trades at USD 91.02 Friday morning against USD 92.72 Thursday afternoon. US benchmark crude West Texas Intermediate sells at the same time for USD 89.67 against USD 91.15.

“Yesterday’s inflation number likely puts more pressure on the U.S. Fed to act more aggressively with rate hikes. This expectation is weighing on oil and the broader commodities complex somewhat,” says ING Head of Commodities Warren Patterson to Reuters.

US Federal Reserve Bank of St. Louis President and Chief Executive James Bullard has said he wants to raise the dollar interest rate by 1 percent point before July 1 after new inflation figures show the largest annual increase in 40 years.

The halt on rising oil prices is also tied to indirect talks on a new nuclear agreement between the US and Iran, recently resumed after a ten-day break, prompting investors to hold their breath.

A potential new accord would likely lead to lifted sanctions, thereby boosting global oil supply.

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