Oil Erases Early Advance on US Tanker Seizure as Equities Drop
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Oil erased an early gain as the US seized a sanctioned tanker off Venezuela, tracking wider losses in equities and other risk assets.Global benchmark Brent held above $62 a barrel, paring an earlier advance of as much as 0.7%.
West Texas Intermediate was below $59. Pressure from disappointing earnings offset the rising risk of escalating tensions between Washington and Caracas.