Market Chatter: Oil Fluctuates on Seaway, Euro
"Oil fluctuated in New York after the expansion of a pipeline that may reduce a glut in the center of the U.S. and as the dollar reduced losses against the euro," Bloomberg reported.
It said: "West Texas Intermediate was little changed after the Seaway line running from Cushing, Oklahoma, to the Gulf Coast resumed service on Jan. 11 at a capacity of 400,000 barrels a day, up from 150,000 barrels. Crude for February delivery slipped 13 cents to $93.43 a barrel on the New York Mercantile Exchange. Prices have fallen 5.3% in the past year. Brent for February settlement gained 36 cents, or 0.3%, to $111 a barrel on the London-based ICE Futures Europe exchange."
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