oil futures declined on wednesday with us prices falling back after settling a day earlier at a nearly sevenyear high but holding above the key 80 mark traders continued to weigh prospects for demand against a backdrop of tight energy supplies with airlines warning that the rise in energy costs may well hinder their recovery prices are starting to slip over concerns about demand destruction said michael hewson chief market analyst at cmc markets uk west texas intermediate crude for november delivery clx21 fell 20 cents or nearly 03 to settle at 8044 a barrel on the new york mercantile exchange prices on tuesday settled at their highest since oct 30 2014