Oil Trades Little Changed in London as Futures Erase Losses

London (Jan 15)  Crude futures erased declines in New York and London.

Brent crude for February settlement gained 6 cents to $48.75 a barrel on the ICE Futures Europe exchange in London as of 12:23 p.m. local time. The contract expires today.

West Texas Intermediate advanced 39 cents, or 0.8 percent, to $48.87 a barrel on the New York Mercantile Exchange. WTI closed up 5.6 percent yesterday, the most since June 2012.

Source: Bloomberg