BLBG:Crude Oil for September Gives Up Gains, Trades Little Changed in New York
Oil traded little changed in New York, giving up earlier gains sparked by shrinking U.S. oil stockpiles.
Crude for September delivery fell as much as 15 cents, or 0.2 percent, to $98.25 in electronic trading on the New York Mercantile Exchange after rising as much as 0.4 percent. The contract traded at $98.32 at 10:38 a.m. Singapore time.
The August contract expired yesterday, rising 64 cents to settle at $98.14 a barrel after the Energy Department said inventories fell 3.73 million barrels to 351.7 million for a seventh week of declines. Prices are 29 percent higher the past year.
Brent oil for September settlement fell 11 cents, or 0.1 percent, to $118.04 a barrel on the London-based ICE Futures Europe exchange.
To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net
