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Brent crude up $1, U.S. crude briefly turns higher

Published 06/07/2011, 09:29 AM
Updated 06/07/2011, 09:32 AM

NEW YORK, June 7 (Reuters) - Brent crude extended gains to more than $1 and U.S. crude futures briefly turned higher in choppy trading on Tuesday as the weaker dollar and Middle East turmoil lifted Brent, offsetting expected production hikes from Saudi Arabia and OPEC.

Traders and brokers also said oil was getting a boost from an expected higher open on Wall Street, with stocks expected to rebound after its recent slide.

ICE Brent July crude rose 97 cents to $115.45 a barrel by 9:25 a.m. EDT (1325 GMT), trading from $113.80 to $115.79.

On the New York Mercantile Exchange, July crude fell 17 cents to $98.84 a barrel, trading from $98.11 to $99.30. (Reporting by Robert Gibbons; Editing by John Picinich)

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