Oil slips towards $64 after Iran releases Britons

LONDON (Reuters) - Oil eased towards $64 a barrel on Thursday after Iran's release of 15 British sailors and marines eased worries over crude shipments from the world's fourth-largest exporter.
U.S. crude jumped above $68 last week as some investors took the view that the standoff over Iran's detention of the Britons increased the risk of a disruption to oil shipments.
"There is a little bit of selling coming in. People feel a little bit happier about the continuity of oil supplies," said Rob Laughlin, a broker at Man Financial in London.

U.S. crude for May delivery was down 27 cents at $64.11 a barrel by 1250 GMT. A big drop in U.S. gasoline inventories ahead of peak summer demand in the world's top consumer, reported by the U.S. government on Wednesday, limited the decline in prices.
The capture of 15 British military personnel had pushed U.S. crude to a six-month high of $68.09 last week and prices are still around $3 higher than before they were seized on March 23.
Investors were keenly aware that Iran exports about 2.5 million barrels per day of oil and sits on the Strait of Hormuz, a shipping route for some two-fifths of globally traded oil.
Iranian President Mahmoud Ahmadinejad told a news conference on Wednesday he had decided to forgive and free the captives. They arrived back in England on Thursday.
U.S. gasoline supplies remained supportive for the market. Stockpiles fell by 5 million barrels, data from the U.S. Energy Information Administration showed on Wednesday.
"The gasoline situation tightened considerably and that limited the downside. Stocks are extremely tight," said Gerard Burg, an analyst from National Australia Bank.
The decline included a drop of two million to three million barrels from the previous week, but still alarmed traders in the run-up to the peak summer driving season.

Gasoline stocks have fallen to the lower half of the historical range, partly as a result of refinery outages, which help to explain high levels of U.S. unrefined crude.
Crude oil inventories rose by 4.3 million barrels, much more than expected.