BLBG:Crude Oil Declines 0.4 percent in New York Trading, Erasing Earlier Gains
Crude for June delivery fell 42 cents, or 0.4 percent, to $99.68 a barrel in electronic trading on the New York Mercantile Exchange at 2:05 p.m. Singapore time. The contract expires today. The more-actively traded July future declined 36 cents to $100.20. Prices are up 43 percent the past year.
Crude for June earlier rose as much as 0.5 percent to $100.56. It advanced 3.3 percent yesterday to $100.10, the highest settlement since May 10, after a government report showed an unexpected drop in U.S. crude inventories.
Brent for July settlement fell 15 cents to $112.15 a barrel today on the London-based ICE Futures Europe exchange, after yesterday climbing $2.31, or 2.1 percent, to $112.30, the highest settlement since May 13.
To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net
