Bloomberg News

Crude Oil Erases Gains in New York, Heads for Quarterly Loss

June 30, 2011

June 30 (Bloomberg) -- Crude oil erased earlier gains in New York and was headed for its first quarterly loss in a year.

Oil for August delivery on the New York Mercantile Exchange was down 25 cents at $94.52 a barrel at 9:15 a.m. London time, after rising as high as $95.44. Futures have declined 11 percent in the second quarter.

To contact the editor responsible for this story: John Buckley at

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