Oil Fluctuates Near Five-Week High in New York, Reversing Decline of 0.9%

Oil was little changed in New York, reversing an early loss of 0.9 percent.

Oil for March delivery fell 5 cents to $101.75 a barrel at 9:14 a.m. on the New York Mercantile Exchange. Yesterday the contract rose $1.06 to $101.80, the highest close since Jan. 10. Prices are up 20 percent from a year ago.

Brent oil for April settlement was at $119.64 a barrel, up 71 cents, on the ICE Futures Europe exchange.

To contact the reporter on this story: Moming Zhou in New York at mzhou29@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net

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