Oil Slips to Near $80 a Barrel
Oil fell for the first time in three days Wednesday to near $80 a barrel, in advance of the Department of Energy’s weekly inventory report.
Crude futures slipped more than $1.50 to as low as $80.35 a barrel on the New York Mercantile Exchange, Bloomberg reported.
Analysts cited a stronger U.S. dollar against the euro as a reason for the price decline, Bloomberg said.
Oil finished the trading day Tuesday at $81.91 a barrel, the highest in two weeks, and futures have consistently closed over $80 every day this month except for three days.
