Oil prices eased in Asia on softer US demand, but tensions in the Middle East where jihadists have declared an Islamic state straddling Iraq and Syria will likely keep prices high, analysts said.
US benchmark West Texas Intermediate for August delivery was down 26 cents at $105.48 a barrel in late-morning trade and Brent crude dropped 22 cents to $113.08.As the world's top oil consuming nation, the health of the US economy is a key influence on oil prices.
US benchmark West Texas Intermediate for August delivery was down 26 cents at $105.48 a barrel in late-morning trade and Brent crude dropped 22 cents to $113.08.As the world's top oil consuming nation, the health of the US economy is a key influence on oil prices.
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