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Oil Futures Pause After Bounce in US Trading

19 Jul 2018 4:47 am

By Biman Mukherji

--Oil futures remained little changed in midday Asian trading after a rebound in U.S. trading which occurred despite a surprise increase in crude inventories and fresh record production.

--August light, sweet crude on the New York Mercantile Exchange was recently down 1 cent at $68.75 a barrel in the Globex trading session. September Brent was off 13 cents at $72.77.

--With Iranian crude exports still holding up and major producers in the Persian Gulf and Russia poised to tick up output, prices should stay "in check in the short-term unless new disruptions materialize," said Giovanni Staunovo, commodity analyst at UBS Global Wealth Management.

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

(END) Dow Jones Newswires

July 19, 2018 00:47 ET (04:47 GMT)

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