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U.S. crude falls $2, then pares loss on Iran news
July 2, 2012 / 2:18 PM / 5 years ago

U.S. crude falls $2, then pares loss on Iran news

NEW YORK, July 2 (Reuters) - U.S. crude futures extended
losses to more than $2 in volatile trading on Monday, reacting
to a weak reading on a gauge of U.S. manufacturing and then
supportive news that Iranian lawmakers have a draft bill
proposing a blockade of the Strait of Hormuz.
    U.S. crude futures were down $1.57 at $83.39 a barrel
at 10:12 a.m. EDT (1412 GMT), having traded from $82.91 to
$85.05.

 (Reporting by Robert Gibbons)

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