Brent Slips in Asian Trading After Fresh 3-Year High
January 15 2018 - 11:58PM
Dow Jones News
By Biman Mukherji
--Brent oil futures slipped in Asian trading after initially
holding on to Monday's fresh 3-year high at above $70/barrel.
--March Brent was recently down 0.4% at $69.98 a barrel. On the
New York Mercantile Exchange, February light, sweet crude futures
was 0.3% above Friday's settlement at $64.49 in the Globex trading
session. There was a U.S. holiday on Monday.
--Oil has essentially been a one-way trade the past month, with
front-month Brent futures up 16 of the last 19 trading days through
Monday while WTI through Friday rose in 16 of the past 20. That
makes the market ripe for a pullback, especially if the dollar
stages more than a slight rebound.
Write to Biman Mukherji at biman.mukherji@wsj.com
(END) Dow Jones Newswires
January 15, 2018 23:43 ET (04:43 GMT)
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