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Brent crude ends up after bouncing on weak dollar

Published 06/02/2011, 03:26 PM
Updated 06/02/2011, 03:32 PM
CVX
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NEW YORK, June 2 (Reuters) - Brent crude futures rose on Thursday in volatile trading as the dollar weakened and the euro rallied on a report that euro zone officials have agreed in principal on a new program for debt-laden Greece.

A fire at a Chevron oil refinery at Pembroke also provided lift as both Brent and U.S. crude contracts rebounded after being pressured earlier by rising U.S. inventories and OPEC sources' remarks indicating the group could hike output targets at a June 8 meeting in Vienna.

ICE Brent July crude rose $1.01, or 0.8 percent, to settle at $115.54 a barrel, trading from $113.74 to $115.83. (Reporting by Robert Gibbons)

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