OPEC sticks to 2024, 2025 demand forecast
U.S. consumer prices increased in February
Ukraine drone strikes hit Lukoil39;s NORSI refinery
Coming up EIA ShortTerm Energy Outlook

NEW YORK, March 12 Reuters Oil prices rose slightly on Tuesday as the market weighed bearish U.S. economic data against OPEC39;s demand growth forecast and persistent geopolitical tensions.

Brent futures for May delivery rose by 21 cents to 82.42 a barrel at 1150 a.m. EDT 1550 GMT. The April U.S. West Texas Intermediate WTI crude contract rose 31 cents to 78.24.

U.S. consumer prices increased solidly in February amid higher costs for gasoline and shelter, the Labor Department39;s Bureau of Labor Statistics said on Tuesday, a sign of persistent inflation.

This does show a second month of an increase, said Tim Snyder, an economist at Matador Economics, noting that the numbers were still within expectations. Consensus in the markets says the Fed will not move to lower rates until June, he added.

On Tuesday, OPEC stuck to its forecast for relatively strong growth in global oil demand in 2024 and 2025, and further raised its economic growth forecast for this year saying there was more room for improvement.

The monthly report from the U.S. Energy Information Administration EIA is expected later on Tuesday, while the International Energy Agency IEA, which advises industrialised nations, is anticipated to put out its estimates on Thursday.

Last week, economic data from China, the world39;s…