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Oil Futures Ease From 3-Year Highs -- Market Talk

13 Apr 2018 4:30 am

By Biman Mukherji

--Oil futures fell modestly in Asia pulled back modestly in Asian trading after the U.S. benchmark logged a fourth-straight gain on Thursday.

--May light, sweet crude on the New York Mercantile Exchange was recently down 0.3% at $66.85 a barrel in the Globex trading session. June Brent fell 0.4% to $71.76.

--The market has rebounded to levels last seen in December 2014 this week, helped by improved sentiment for equities globally and renewed tensions in the Mideast focused on Syria. With scant reaction this week to what on the surface was bearish-for-prices U.S. inventory and production data, later Friday's US oil-rig data may get a similar market reaction.

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

(END) Dow Jones Newswires

April 13, 2018 00:30 ET (04:30 GMT)

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