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Crude oil pares losses on Germany/France SPR view
March 20, 2012 / 3:17 PM / 6 years ago

Crude oil pares losses on Germany/France SPR view

NEW YORK, March 20 (Reuters) - Brent and U.S. crude oil
futures pared losses on Tuesday after a report that Germany and
France were opposed to an emergency release of strategic oil
reserves, according to officials from both countries.
    In London, ICE Brent crude for May delivery was down
$1.50, or 1.19 percent at $124.21 a barrel by 11:05 a.m. EDT
(1505 GMT). Before the news broke, it traded down $1.44, or 1.15
percent, at $124.27. 
    NYMEX crude for April delivery was down $1.59, or
1.47 percent at $106.50. Before the news, it was down $1.86, or
1.72 percent, at $106.23.

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