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Oil Futures Gain Further on US Inventory Data

21 Mar 2018 4:10 am
   By Biman Mukherji 

--Oil futures modestly added to Tuesday's 2% jump during Asian trading Wednesday, helped by bullish inventory data.

--May light, sweet crude on the New York Mercantile Exchange was recently up 0.3% at $63.72 a barrel in the Globex trading session. May Brent gained 0.25% to $67.59.

--The American Petroleum Institute said U.S. inventories declined last week, in contrast to expectations of an increase in the government's report later Wednesday.

--Meanwhile, oil-market sentiment is being supported by reports that Trump may impose tougher sanctions on Iran.

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

(END) Dow Jones Newswires

March 21, 2018 00:10 ET (04:10 GMT)

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