Crude Oil Gives Up Gains on Rising Inventories as Equities Erase Advance

Crude oil pared gains in New York to trade nearly unchanged as equities also gave up advances.

Crude for September delivery traded at $76.93 a barrel in electronic trading on the New York Mercantile Exchange. Yesterday, the contract fell 51 cents, or 0.7 percent, to $76.99, the lowest settlement since July 21. Futures have gained 22 percent in the past year.

To contact the reporter on this story: Grant Smith in London at gsmith52@bloomberg.net

• Tweet
• More
  • Business Exchange
  • Buzz up!
  • Digg
• Print
• Email