US crude oil futures erased gains in New York trading, while Brent extended losses in London.
West Texas Intermediate for May delivery fell 8 cents, or 0.2 percent, to $47.37 a barrel at 9:50 a.m. on the New York Mercantile Exchange. Total volume was about 17 percent above the 100-day average for the time of day.
Brent for May settlement slid 58 cents to $55.34 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude traded at a premium of $8 to WTI on the ICE.
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