Oil prices drop as IEA warns of ‘enormous’ stockpiles

NEW YORK, United States — Crude futures fell for a fourth session running Tuesday as the International Energy Agency (IEA) warned that huge stockpiles would cap any future price gains.  In New York, US benchmark West Texas Intermediate for July delivery shed 39 cents to $48.49 a barrel. In London, Brent North Sea crude for delivery in August was down 52 cents at $49.83 a barrel. Read more here.

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