Oil eases below four-year highs; U.S. inventory rise expected | Reuters:
Oil prices eased slightly on Tuesday after rallying for three straight sessions, but remained close to four-year highs on worries that global supplies will drop due to Washington’s sanctions on Iran.
“This is the market catching its breath,” said Gene McGillian, director of market research at Tradition Energy in Stamford, Connecticut.
In addition to the worries that Iran, prices are being supported by global demand that has remained strong in the face of trade tensions.
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