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Oil fluctuated in New York
Oil fluctuated in New York as U.S. inventories climbed last week while stockpiles at Cushing, Oklahoma, the delivery point for the futures, fell.
Crude oil for March delivery rose to $96.99 a barrel on the New York Mercantile Exchange. The contract traded at $95.04 before the release of the inventory report by the Energy Information Administration. Trading was 98 percent above the 100-day average for this time of day. Futures are up 5 percent this year.
Brent oil for March settlement gained 30 cents, or 0.3 percent, to $116.82 a barrel on the London-based ICE Futures Europe exchange. Brent volume was 42 percent above the 100-day average.
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