Global Oil Prices Ease

Oil prices eased on Wednesday after industry data showed US crude inventories unexpectedly rose last week, signaling a potential hiccup in demand, though concerns over supply kept losses in check.
Brent crude futures fell 23 cents, or 0.2%, to $96.08 a barrel, Money.usnews.com reported.
US West Texas Intermediate crude futures declined by 28 cents, or 0.3%, to $90.22 a barrel.
US crude stocks rose by about 2.2 million barrels for the week ended Aug. 5, according to market sources citing American Petroleum Institute figures. 
Analysts polled by Reuters had forecast that crude inventories would rise by around 100,000 barrels. 
"Whatever crude demand destruction that occurs from a weakening global economy will not be able to drag down oil prices much lower, given how low the supply outlook remains," said Edward Moya, senior market analyst at OANDA.
"Much attention is falling on Iran nuclear deal talks and that could be a wildcard in providing much needed supplies."
The European Union on Monday put forward a “final" text to revive the 2015 Iran nuclear deal that would boost Iran's crude exports.
A senior EU official said he expected a final decision on the proposal within "very, very few weeks".