Oil Prices Jump as Europe Hints at June Rate Cuts

Brent crude and U.S. benchmark crude oil prices gained well over 1% in thin Monday trading, with international inflation data and the potential for rate cuts globally taking center stage on Memorial Day weekend, with U.S. and London markets closed for the holiday.  At 12:48 p.m. ET on Monday, Brent crude was trading at $83.07, up 1.16% on the day, while West Texas Intermediate (WTI) was trading at $78.68, up 1.24% on the day.  Asian and European stock markets also benefited on Monday, with some renewed optimism about rate cuts…