Oil prices were lower today trading down on easing of supply tightness. Markets traded down further after hours as the API survey showed a jump a crude inventories. “If EIA shows less barrels are going into the refineries, then that is a problem for crude oil here,” Mizuho analyst Robert Yawger said. “Heading into peak summer driving season we should be drawing, not building,” he added. The EIA on Tuesday raised its forecasts for this year’s world oil and liquid fuels output and lowered its demand expectations, pointing to a well-supplied market as opposed to prior forecasts that showed under-supply. The premium of the first-month Brent contract to the six-month contract slipped to $2.90 a barrel on Tuesday, the lowest since mid-February, another sign of market participants betting on easing supply tightness. WTI traded down $.10 to close at $78.38. Brent traded down $.17 to close at $83.16.