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US crude turns positive, Brent higher on API draw

Published 08/09/2011, 04:53 PM
Updated 08/09/2011, 05:00 PM
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NEW YORK, Aug 9 (Reuters) - U.S. crude oil futures turned positive and Brent crude extended gains in post-settlement trading on Tuesday after the American Petroleum Institute reported a surprise 5.2 million-barrel draw in U.S. crude inventories last week.

On the New York Mercantile Exchange, crude for September delivery rose 44 cents to $81.75 a barrel. It had settled at $79.30, down $2.01, trading from $75.71 to $83.05.

In London, ICE Brent crude for September was up $1.48 at $105.22 a barrel. It had turned positive before the industry data was released, but settled earlier at $102.57, down $1.17, after trading from $98.74 to $105.95. (Reporting by Gene Ramos)

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