Oil Futures Little Changed After Overnight Rebound
August 24 2017 - 12:38AM
Dow Jones News
By Biman Mukherji
--Oil futures were little changed in Asian trading, maintaining
overnight gains caused by relief buying following in-line weekly
data from the U.S.
--On the New York Mercantile Exchange, light sweet crude futures
for delivery in October was recently down 3 cents at $48.36 a
barrel in the Globex electronic session. October Brent on London's
ICE Futures was up 2 cents at $52.59.
--Range-bound trading is seen continuing as U.S. oil production
continues to rise, limiting the impact of declining inventories
there, while the ongoing production caps led by the Organization of
the Petroleum Exporting Countries start to be felt, said Gnanasekar
Thiagarajan of Commtrendz Risk Management.
Write to Biman Mukherji at biman.mukherji@dowjones.com
(END) Dow Jones Newswires
August 24, 2017 00:23 ET (04:23 GMT)
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