Oil hovers near $80 a barrel

LONDON, Sept 12 (Reuters): Oil eased on Wednesday, having neared its highest level this year after a drop in US crude inventories and the prospect of the loss of Iranian supply added to concerns over the delicate balance between consumption and production.
Brent crude futures LCOc1 were last down 23 cents on the day at $78.83 a barrel by 0923 GMT, having touched a session peak of $79.66, the highest since late May, when the price broke above $80.
US crude futures CLc1 were up 35 cents at $69.60 a barrel.