FU: U.S. crude briefly turns negative on dollar rise
NEW YORK, Nov 3 (Reuters) - U.S. crude oil futures prices briefly turned negative on Wednesday in volatile trading as the dollar strengthened on positive U.S. services sector data.
Crude prices had extended gains after a government oil inventory report showed gasoline and distillate stockpiles fell sharply last week. But the U.S. Energy Information Administration report showed crude stocks rose 1.95 million barrels, more than expected, tempering the price rise. [EIA/S]
Oil prices were up earlier amid expectations that the Federal Reserve will announce monetary easing measures at the end of its two-day policy meeting later on Wednesday.
On the New York Mercantile Exchange, December crude rose 15 cents, or 0.18 percent, to $84.05 a barrel at 11:28 a.m. EDT (1528 GMT), trading from $83.57 to $85.36. (Reporting by Robert Gibbons; Editing by David Gregorio)
