Oil Futures Largely Maintain Wednesday's Jump
November 23 2017 - 12:09AM
Dow Jones News
By Biman Mukherji
--Oil futures edged lower in light Asian trading on Thursday
after the U.S. benchmark hit its highest level in nearly 2 1/2
years.
--January light, sweet crude on the New York Mercantile Exchange
was recently down 0.2% at $57.90 a barrel in the Globex trading
session. Brent fell by a similar margin to $63.17.
--While Wednesday's U.S. government reading on weekly
inventories didn't show as much of a drop as estimates by the
American Petroleum Institute--which stoked the day's price
jump--investors still took positive cues after some recent
stockpile increases.
--Oil trading will be thin today for the Thanksgiving holiday in
both the U.S. and Japan. That ahead of next week's anticipated
meeting of the Organization of the Petroleum Exporting Countries
and the likely extension of ongoing production caps.
Write to Biman Mukherji at biman.mukherji@wsj.com
(END) Dow Jones Newswires
November 22, 2017 23:54 ET (04:54 GMT)
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