LONDON, May 24: World oil prices eased on Tuesday as traders focussed on this week’s US government energy report, six days from the start of the US driving season. New York’s main contract, light sweet crude for delivery in July, fell 11 cents to $49.05 per barrel in early deals.
In London, the price of Brent North Sea crude oil for delivery in July lost 11 cents to $48.26 per barrel, after hitting a three-month low of $47.47 the previous day.
“There is no news worthy of driving oil prices at the moment, so the market is waiting for a lead from Wednesday’s inventories,” said Prudential Financial trader Aaron Kildow.—AFP
