Oil prices eased today trading down as U.S. Federal Reserve officials said they were awaiting more signs that inflation was declining before the central bank starts cutting interest rates. Two top Fed officials said they’re not yet ready to say inflation trends are again moving sustainably back to the central bank’s 2% target, weighing in after data last week showed a welcome easing in consumer price pressures in April. The market, however, appeared unfazed by political uncertainty in two major oil-producing countries after Iran’s president died in a helicopter crash and Saudi Arabia’s crown prince deferred a trip to Japan because of the health of his father, the king. “The market also appears increasingly numb to developments on the geopolitical front, likely due to the large amount of spare capacity OPEC is sitting on,” said Warren Patterson, head of commodities strategy at ING. WTI traded down $.26 or -.3% to close at $79.80. Brent traded down $.27 or -.3% to close at $83.71.