China consumer inflation drop spurs stimulus case
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LONDON, April 11 Reuters Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude stockpiles.

Brent crude futures rose 63 cents, or 0.8, to 84.81 a barrel at 0840 GMT, while U.S. West Texas Intermediate futures gained 68 cents, or 0.9, to 80.42 a barrel.

Data from China showed consumer inflation in March at its slowest pace since September 2021, suggesting demand weakness persists amid an uneven economic recovery, which spurred expectations Beijing may take steps to boost growth.

China39;s March CPI is lower than expected, which may promote the Chinese government to further stimulate the economy, said Tina Teng, an analyst at CMC Markets.

Crude futures also climbed as the dollar eased on expectations that the U.S. Federal Reserve is getting closer to ending its rate hike cycle. A weaker greenback makes oil cheaper for those holding other currencies.

With more central banks pausing rate hikes, such as the Reserve Bank of Australia, Bank of Korea … the expectation for the Fed to further scale back its tightening policy has been strengthened, Teng added.

Signs of strong March fuel demand in India, the world39;s thirdbiggest oil consumer, also supported prices. Last month, fuel consumption jumped by 5 from a year earlier…