Oil Ticks Up After Monday Pullback
November 20 2017 - 11:46PM
Dow Jones News
By Biman Mukherji
--Oil futures rose slightly in Asian trading Tuesday after a
pullback overnight retraced some of the market's end-of-week
rebound.
--January light, sweet crude on the New York Mercantile Exchange
was recently up 0.2% at $56.52 a barrel in the Globex training
session. Brent rose 0.2% to $62.34.
--The Organization of the Petroleum Exporting Countries and
other producers including Russia are scheduled to meet Nov. 30,
where they are expected to extend an current production cuts. But
some investors are unsure of Russia's commitment.
--With many market participants anticipating a 9-month
extension, moving expiration to the end of 2018, anything less
could easily spark a selloff, said Helima Croft, global head of
commodity strategy at RBC Capital Markets.
Write to Biman Mukherji at biman.mukherji@wsj.com
(END) Dow Jones Newswires
November 20, 2017 23:31 ET (04:31 GMT)
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