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Early Asian Gains for Oil Futures Evaporate

22 Mar 2018 4:33 am
   By Biman Mukherji 

--Oil futures erased early gains by midday Thursday in Asia as the dollar steadied following Wednesday declines that helped push crude price up some 3%.

--May light, sweet crude on the New York Mercantile Exchange was recently up 4 cents at $65.21 a barrel in the Globex trading session. May Brent fell 3 cents to $69.04.

--Despite upbeat U.S. inventory data Wednesday, which also helped the market, Phillip Futures says the fears of still-rising American production will likely cap the price upside.

Write to Biman Mukherji at biman.mukherji@wsj.com

(END) Dow Jones Newswires

March 22, 2018 00:33 ET (04:33 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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