May 18, 2011 – NEW YORK (Reuters) - Brent crude futures extended gains to more than $2 on Wednesday, but in choppy trading, after a weekly government report showed crude stocks fell slightly in the United States last week as refinery utilization rose.
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U.S. crude stocks fell 15,000 barrels in the week to May 13, according to a report from the U.S. Energy Information Administration, against a forecast for supplies to be up 1.0 million barrels. Stocks at the key Cushing, Oklahoma, oil hub saw a bigger decline. <EIA/S>
ICE Brent July crude rose $1.69 to $111.68 a barrel by 10:57 a.m. EDT (1457 GMT), trading as high as $112.06 after the data, having bounced earlier off its intraday low of$110.42.
(Reporting by Robert Gibbons)