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US crude briefly lower, Brent pares gain on data

Published 06/16/2011, 10:14 AM
Updated 06/16/2011, 10:16 AM

NEW YORK, June 16 (Reuters) - U.S. crude turned briefly lower in seesaw trading and Brent pared gains on Thursday immediately after a report from the Philadelphia Federal Reserve showed a gauge of Mid-Atlantic region business conditions fell in June.

ICE Brent front-month August crude rose 96 cents to $113.97 a barrel by 10:11 a.m. EDT (1411 GMT), having swung between $112.55 to $114.94.

On the New York Mercantile Exchange, July crude was up 19 cents at $95 a barrel, after turning lower on the report and having traded from $94.29 to $95.75. (Reporting by Robert Gibbons; Editing by John Picinich)

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