United States
Brent crude oil futures for the October delivery rose 0.5 percent to $81.09 per barrel
Data on Tuesday revealed that U.S. producer prices increased less than expected in July, signaling a cooling in inflation
Gold prices will likely see additional support if a softer U.S. inflation report is released, raising hopes for a larger rate cut
Global benchmark Brent crude futures dipped 78 cents, or 0.95 percent, to $81.52 a barrel
OPEC also cut next year's demand growth estimate to 1.78 million bpd from the previous 1.85 million bpd
Before last week, oil prices recorded four consecutive weeks of losses amid fears of slowing economic growth
Progress on inflation could support gold prices to retest a new all-time high once more
Markets are now pricing in a 55 percent chance of a 50-basis-points cut in September with bets on an additional cut in December
Brent oil futures slipped 0.1 percent to $79.11 a barrel
U.S. dollar declined by 0.15 percent to 103.05, making greenback-priced bullion more affordable for other currency holders
Brent crude futures rose 23 cents, or 0.3 percent, to $78.56 per barrel
