Stock markets have largely risen, tracking an overnight Wall Street rally after the Federal Reserve chief expressed confidence in the US economy despite global trade war fears.

CPI ticked up from 4.4% in May to 4.6% in June, which was slightly under the 4.8% expected by economists.

Oil has slipped below $68 a barrel toward its lowest level in almost a month after an industry report showed a surprise gain in American crude inventories.