Brent crude rose in London after yesterday’s decline, the biggest since November, while oil in New York erased earlier gains to trade little changed.
Crude for March delivery traded at $89.57 a barrel, down 2 cents in electronic trading on the New York Mercantile Exchange at 1:52 p.m. London time after rising to $90.22 a barrel. Brent crude for March settlement was up 53 cents at $97.11 on the ICE Futures Europe exchange in London.
New York futures have fallen 3 percent this week. The February contract expired yesterday after dropping 2.2 percent to $88.86, the lowest since Jan. 7. Brent futures fell 1.6 percent yesterday.