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Oil fell on Wednesday, after reaching its highest level this year after the US stockpile slump and the prospect of losing Iran's supply, adding to concerns over the delicate balance between consumption and production.
Brent futures were down 23 cents to 78.83 dollars a barrel at 9:23 GMT, after peaking at $ 79.66, the highest since late May, when the price was over $ 80.
US crude futures prices rose 35 cents to $ 69.60 a barrel.
"We believe the fundamentals of the oil market are increasingly supporting crude oil prices, at least at current levels," said Gordon Gray, global head of oil and gas research at HSBC.
"While we do not explicitly predict that Brent will reach $ 100 a barrel, we see real risks in this regard.The fact that Saudi Arabia – and the remaining low available capacity – already offers the global system highly vulnerable to any other major breakdown. "
US crude inventories fell 8.6 million barrels over the week, from 7 to 395.9 million dollars, the American Petroleum Institute (API) said Tuesday.
Outside the United States, traders have been looking into the impact of US sanctions against Iran that will target oil exports starting in November.
"Iran is becoming more and more the focus of the crude oil market.The past few weeks have seen the expected tightening of Iranian crude oil flows, with cash outflows dropping globally," said consultant JBC Energy.
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