Oil markets rose this morning on hopes of demand growth after the US Federal Reserve stated it would keep interest rates low to help speed economic recovery.

Brent crude gained 84¢ to stand at $110.65 a barrel, while US crude rose by 70¢ to $100.10, reports Reuters.

Meanwhile, investors are still worried about supply disruption because of tensions between the West and Iran over Iran’s nuclear programme.

Data from the Energy Information Administration showed that crude inventories rose by more than expected as imports rebounded and refinery utilisation fell.