Bloomberg News

Crude Pares Decline in New York Trading; Brent Premium Widens

October 12, 2011

Oct. 12 (Bloomberg) -- Oil pared its earlier decline in New York to trade little changed. Crude for November was at $85.69 a barrel, down 12 cents, in electronic trading on the New York Mercantile Exchange at 5:49 p.m. Sydney time after earlier dropping as much as $1.29.

Brent oil was up 37 cents, or 0.3 percent, at $111.10 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract was at a premium of $25.41 to New York crude, the most since Sept. 15 and down from a record of $26.87 on Sept. 6.

To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net


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