BLBG:Oil Fluctuates on Pipeline Reversal, Spanish Banks
Oil fluctuated in New York as Enbridge Inc. (ENB) and Enterprise Products Partners LP (EPD) prepared to reverse flows on their Seaway pipeline, and as investors speculated Spanish banks may have their credit ratings lowered.
Crude oil for June delivery fell 20 cents to $92.61 a barrel at 11:35 a.m. on the New York Mercantile Exchange. Futures yesterday dropped 1.2 percent to $92.81, the lowest close since Nov. 2.
Brent oil for July settlement slipped $1.46, or 1.3 percent, to $108.29 a barrel on the London-based ICE Futures Europe exchange.
To contact the reporter on this story: Mark Shenk in New York at mshenk1@bloomberg.net
To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net
