West Texas Intermediate (WTI) crude futures fell 11 cents to settle at $72.13 a barrel, a 0.15 percent loss. "Trade is positive for energy demand," said Phil Flynn, analyst at Price Futures Group in Chicago. crude stockpiles are forecast to have declined by 1.6 million barrels last week, which would be the third straight weekly fall. [nL2N1ST18Y] The American Petroleum Institute's inventory report for the period is due at 4:30 p.m. EDT (2030 GMT). [EIA/S]Limiting the upward pressure on prices is rising supply in the United States, where shale production is forecast to hit a record high in June.

Source: The Star May 22, 2018 22:07 UTC