NEW YORK -- The price of oil is swinging between small gains and losses after the government said U.S. supplies fell more than expected last week.
The Energy Information Administration says that the nation's oil supply dropped by 4.3 million barrels.
Supplies also are expected to tighten overseas as striking oil workers force Norway's largest petroleum company to shut down production in the North Sea. Statoil says that will cut production by 1.2 million barrels per day - nearly as much as the oil lost on world markets last year during the Libyan uprising.
Benchmark U.S. crude fell 7 cents to $87.59 per barrel in New York, while Brent crude rose $1.40 to $101.17 per barrel in London.
Meanwhile, retail gasoline prices were flat at a national average of $3.338 per gallon.