Economic news

Oil slightly eases on forecasts of more rises in U.S. inventories

Prices of oil declined today on prospects of growth in U.S. oil stockpiles, though data suggesting Iran’s crude sales diminished in the month held back falls.

Photo: Reuters

Brent futures for December edged 6 cents lower to $80.72 for a barrel.

U.S. WTI futures for November slid 14 cents to $71.64 per barrel.

Predictions by analysts in a poll by Reuters said U.S. oil inventories would go up by around 1.1 mln barrels, gaining for four weeks in a row, in expectation of figures from the American Petroleum Institute and the Energy Information Administration.


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