Nymex WTI crude-oil futures posted small gains after briefly dipping into negative territory in the wake of U.S. government data that showed a smaller-than-expected drop in domestic crude-oil inventories.
The U.S. Energy Information Administration said crude inventories dropped 579,000 barrels in the week ended June 13 compared with forecasts for a drop of 1.4 million barrels.
Nymex July crude futures were up five cents, or less than 0.1%, at $106.41 U.S. a barrel. Oil had pushed back toward the $107 U.S. level in earlier action on continued tension in Iraq.
