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Brent crude turns lower, US pares gain on dollar

Published 06/09/2011, 09:51 AM
Updated 06/09/2011, 09:56 AM

NEW YORK, June 9 (Reuters) - Brent crude futures turned lower and U.S. crude pared gains in volatile trading as the dollar strengthened and the euro weakened after comments from European Central Bank President Jean-Claude Trichet.

Earlier, mixed U.S. economic data had failed to stem bullish sentiment in the market a day after OPEC failed to raise production targets.

ICE Brent July crude fell 11 cents to $117.74 a barrel by 9:46 a.m. EDT (1346 GMT), trading from $117.37 to $118.53.

On the New York Mercantile Exchange, July crude rose 24 cents to $100.98 a barrel, having traded from $100.74 to $101.87. (Reporting by Robert Gibbons)

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