Oil prices move higher as U.S. product oil inventory, inflation fall

NEW YORK, April 12 (Xinhua) -- U.S. oil prices extended gains Wednesday on lower-than-expected U.S. inflation and supportive weekly oil inventory data.

The West Texas Intermediate (WTI) for May delivery rose 1.73 U.S. dollars, or 2.12 percent, to settle at 83.26 dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery increased 1.72 dollars, or 2.01 percent, to settle at 87.33 dollars