Oil prices nudge higher in volatile trade

NEW YORK, May 14 (AFP): Crude oil prices rose again in choppy trade for the second day running yesterday. New York's main contract, light sweet crude for June, rose 68 cents to close at $99.65 a barrel in volatile trade marked by fairly wide swings around the neutral line. In London, Brent North Sea crude for delivery in June added 85 cents to settle at $113.83 a barrel. Jason Schenker, president of energy consultancy Prestige Economics, highlighted the broad market volatility. "The market is really struggling to find footing. While there is positive economic news that provided support, there's still a lack of trend and price leadership," he said. "The recent pullback in prices had a significant impact on resetting the base price in trading," he added. Shortly before the New York Mercantile Exchange opened, the benchmark West Texas Intermediate futures contract was trading above $100. A firming dollar halted buying momentum and sent WTI down to barely more than $97.