Oil Futures Ease Amid After End-of-Week Jump
11 December 2017 - 2:58PM
Dow Jones News
By Lucy Craymer
--Oil futures fell in Asian trading, reversing some of Friday's
rally that was stoked by data showing Chinese crude imports were
growing strongly.
--January light, sweet crude on the New York Mercantile Exchange
was recently down 0.5% at $57.08 a barrel in the Globex trading
session. February Brent fell 0.5% to $63.10.
--The Chinese trade data highlighted potential of strong global
demand. That, along with the ongoing production caps on many of the
world's largest producers, could result in a quicker rebalancing of
supply and demand after years of oversupply.
--OCBC Bank said that sentiment was supported by reported
comments Sunday from Kuwait Oil Minister Issam Almarzooq that
"there is a possibility" the deal ends "if the market is rebalanced
by June."
Write to Lucy Craymer at lucy.craymer@wsj.com
(END) Dow Jones Newswires
December 10, 2017 22:43 ET (03:43 GMT)
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