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Brent crude futures turn lower, US pares rise

Published 07/26/2011, 09:25 AM
Updated 07/26/2011, 09:28 AM

NEW YORK, July 26 (Reuters) - Brent crude futures turned lower in choppy trading and U.S. crude prices pared gains on Tuesday just after the opening of the open-outcry floor session in New York.

Brokers and analysts said both contracts had ran into resistance earlier, with U.S. crude stalling just ahead of the $100 a barrel level.

ICE Brent September crude fell 5 cents to $117.89 a barrel by 9:22 a.m. (1322 GMT), having traded from $117.32 to $118.63.

On the New York Mercantile Exchange, September crude was up only 10 cents at $99.30 a barrel, having traded from $98.80 to $99.98. (Reporting by Robert Gibbons; Editing by John Picinich)

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