Brent crude seesaws, US oil extends rise after data - FOREX NEWS

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Thursday, October 6, 2011

Brent crude seesaws, US oil extends rise after data

NEW YORK, Oct 6 (Reuters) - Brent crude seesawed and U.S. crude extended its rise after initially paring gains on Thursday in choppy trading after data showed jobless claims rose last week in the United States, though not as much as expected.

Trading was choppy as the report also showed continuing jobless claims fell. [ID:nLLA6LE70P]

Brent had turned lower earlier after the European Central Bank left interest rates unchanged, disappointing traders after the UK central bank's vote for a second round of money creation had raised hopes of further support.

ICE Brent November crude was up 21 cents to $102.94 a barrel by 8:48 a.m. (1248 GMT), having traded from $102.19 to $103.70.

On the New York Mercantile Exchange, November crude rose $1 to $80.68 a barrel, trading from $79.42 to $81.15.

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