Brent Erases Losses

MMS INTERNATIONAL (11:30 a.m. EDT): Brent front month futures erased all losses to get back to USD 29.35/b as the U.S. Dept. of Energy data confirmed a 400,000 slide in gasoline supplies while key RFG2 stocks down 1.4 Mln/b... Crude supplies also confirmed to be up... The overall gasoline supply rebuts earlier API release of stock build.. With the U.S. summer driving season getting on the road this weekend, IPE Brent contract is likely to remain supported at current levels of just under USD $30/b.

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