Oil prices settled higher today but closed down for the quarter for the 4th quarter in a row. Signs of strengthening U.S. economic activity and sharp declines in U.S. oil inventories last week offered some support. For the day, crude was bolstered by a U.S. Commerce Department report showing annual inflation rising last month at its slowest pace in two years. Signs of moderating inflation “could hold the Federal Reserve off rising interest rates again,” said John Kilduff, partner at Again Capital LLC in New York. U.S. energy firms this week cut the number of oil and natural gas rigs operating for a ninth week in a row for the first time since July 2020, energy services firm Baker Hughes said on Friday. WTI traded up $.78 or 1.1% to close at $70.64. Brent traded up $.56 or .8% to close at $74.90.