Brent Crude Falls On Weak China Data in Volatile Trading
Prices for both benchmarks zig-zagged throughout the day. Brent swung by more than $1, from a low of $106.45 to a high of $107.50. U.S. crude covered even more ground, from $99.05 to $100.29.
"There are flows in both directions, and they don't always match evenly, so we get some incidental price fluctuations," said Tim Evans, energy analyst at Citi Futures Perspective.
The spread between the two benchmarks narrowed slightly, to $7.21 from Friday's close of $7.46.
Brent crude has lost 3.6 percent this year, giving up gains after rising to $112 in early March, its highest in more than two months, amid geopolitical risks as Russia took control of Ukraine's Crimea region.
It slid further in post-settlement trading, falling by 33 cents to $106.60 by 3:11 pm EDT (1911 GMT). U.S. crude also dipped, falling 4 cents in post-settlement trading.
Concerns that tensions in the Crimea region could still worsen helped stem declines. NATO's top military commander said on Sunday Russia had built up a "very sizeable" force on its border with Ukraine and Moscow may have a region in another ex-Soviet republic, Moldova, in its sights after annexing Crimea.
Russian troops, using armoured vehicles, automatic weapons and stun grenades, seized some of the last military facilities under Ukrainian control in Crimea on Saturday. Russian President Vladimir Putin formally annexed the Black Sea peninsula the day before.
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