Bloomberg News

Oil Pares Loss as Draghi Said to Plan Unlimited Bond Purchases

September 05, 2012

Crude futures pared losses to trade little changed after two central bank officials said European Central Bank President Mario Draghi’s bond-buying proposal involves unlimited purchases of government debt.

Oil traded at $95.50 a barrel, 20 cents higher, on the New York Mercantile Exchange at 1:06 p.m. London time.

To contact the reporter on this story: Grant Smith in London at

To contact the editor responsible for this story: Rachel Graham at

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