Meanwhile, London's Brent crude futures lost 38 cents to trade at $70.43 per barrel in the ICE Futures.
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Oil Fell on Easing Tensions Between East and West
Oil fell below $72 on Wednesday
Oil fell below $72 on Wednesday on expectations for a further increase in U.S. gasoline supplies and easing tensions between the West and Iran over its nuclear programme.
U.S. light sweet crude oil traded 56 cents lower at $71.94 a barrel on the NYMEX, after slipping 10 cents on Tuesday.
Meanwhile, London's Brent crude futures lost 38 cents to trade at $70.43 per barrel in the ICE Futures.
Meanwhile, London's Brent crude futures lost 38 cents to trade at $70.43 per barrel in the ICE Futures.
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