Oil Futures Rebound Some in Asian Trading
January 21 2018 - 11:42PM
Dow Jones News
By Biman Mukherji
--Oil futures rose in Asian trading Monday, reversing some of
last week's modest pullback that ended a month-long stretch of
nearly uninterrupted gains to three-year highs.
--February light, sweet crude on the New York Mercantile
Exchange was recently up 0.3% at $63.58 a barrel in the Globex
trading session. March Brent rose 0.4% to $68.87.
--Beyond a natural pullback following the gains seen before and
after the year-end holidays, weighing on oil last week was
prospects of whether high oil prices might encourage more output.
But Saudi Arabia's energy minister said Sunday that major producers
should keep coordinating their activities to bring supply and
demand into balance and maintain such a climate.
Write to Biman Mukherji at biman.mukherji@wsj.com
(END) Dow Jones Newswires
January 21, 2018 23:27 ET (04:27 GMT)
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