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Brent, U.S. crude futures initially extend gains after Fed
September 13, 2012 / 4:56 PM / 5 years ago

Brent, U.S. crude futures initially extend gains after Fed

NEW YORK, Sept 13 (Reuters) - Brent and U.S. crude futures initially extended gains on Thursday in volatile trading that saw oil prices briefly turn negative, after the Federal Reserve issued a statement that said the central bank will make additional asset purchases and will keep rates low at least through 2015.

Brent crude was up 48 cents at $116.44 a barrel at 12:49 p.m. EDT (1649 GMT), having traded from $115.45 to $117.48, the highest intraday price since early May. U.S. crude gained 31 cents to $97.32, having traded from $96.51 to $98.58, also the highest price since early May.

Reporting by Robert Gibbons; Editing by Maureen Bavdek

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