Oil is falling after US inflation data

Oil prices eased today after rising for three days as US consumer prices rose in April which could increase the possibility that the Federal Reserve will maintain higher interest rates. Brent crude futures fell $1.03, or 1.3%, to $76.41 a barrel, and West Texas Intermediate crude futures fell $1.15, or 1.6%, to $72.56 a barrel.

The Energy Information Administration said that US crude oil inventories rose by nearly three million barrels last week, while US gasoline stocks fell by 3.2 million barrels last week. global demand for oil