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0324 GMT - Amid a broader risk-on move following the initial results from France's presidential election, oil's gains are marginal in the face of stubborn oversupply, says Michael McCarthy of CMC Markets. "The outcome removes a potential negative from the market," he adds while noting most players are concerned that OPEC is no longer able to provide an effective solution to balance the oil market. Oil futures are up some 0.5% in Asian trading, reversing a bit of Friday's selloff. (jenny.hsu@wsj.com)
(END) Dow Jones Newswires
April 23, 2017 23:24 ET (03:24 GMT)
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