Oil Prices Ease As Traders Await US Oil Stocks Data

Oil prices are easing off slightly after making an all time high recently.

Oil traders are awaiting a report from the US government that is expected to show an increase in oil inventories.

Light sweet crude for delivery in September fell to $72.05, down $0.37 a barrel at midday Europe time.

Last week, a report from the U.S. Energy Department’s Energy Information Administration indicated a big drop in oil inventories and this sparked a rally in oil to $78.77 a barrel.

Where do you think oil prices are going?

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