NEW YORK Oil prices rose over 2% on Friday (June 2) after the US Congress passed a debt ceiling deal that averted a government default in the world's biggest oil consumer and jobs data fuelled hopes for a possible pause in Federal Reserve interest rate hikes. The focus is now turning to a meeting of Opec and its allies this weekend. Brent futures rose US$1.85, or 2.5%, to settle at US$76.13 a barrel, while US West Texas Intermediate (WTI) crude rose US$1.64, or 2.3%, to settle at US$71.74. The closes were the highest since May 26 for WTI and May 29 for Brent.

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