Oil prices ease back from record highs

Oil prices were easing back from their recent record highs today as the cost of a barrel dipped below the $46 (€37.30) mark.

After peaking at an all-time high of $46.91 (€40.20) yesterday, the cost of a barrel of crude in New York slipped back to $45.82 (€37.10) as traders expressed further relief at the outcome of Venezuela’s presidential referendum.