By Barani Krishnan — The easing inflation game in the United States is helping oil bulls, although rising crude prices alone could eventually lead to higher inflation.

New York-traded WTI, or West Texas Intermediate, crude for February delivery rose $1.47, or 1.9%, to $79.86 a barrel after a session high of $79.93. The US crude oil benchmark rose 8.4% on the week, fully erasing losses from a week ago.

London-traded Brent crude for March delivery has…