BLBG:Crude Erases Loss In New York As Euro Recovers Against Dollar
Oil erased losses in New York as the euro rebounded against the dollar, making commodities priced in the U.S. currency more attractive.
Crude for September delivery on the New York Mercantile Exchange rose as much as 29 cents to $89.26 a barrel and was at $89.25 at 11:37 a.m. London time. The contract earlier fell 1 percent to $88.07. The euro was up 0.5 percent to $1.2222 after weakening 0.3 percent to $1.2118.
To contact the reporter on this story: John Buckley in Amsterdam at johnbuckley@bloomberg.net
To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net
