Oil traded below $80 a barrel for a fifth day in New York as rising U.S. crude stockpiles stoked speculation demand will falter, countering signs that output from Iran and Norway will be disrupted.
Futures swung between gains and losses after the American Petroleum Institute said inventories rose 507,000 barrels last week. A government report today is forecast to show supplies slid 1.3 million barrels after unexpectedly climbing to a 22- year high the prior week………………………………………..Full Article: Source