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Oil Futures Pull Back Some Ahead of US Inventory Data

11 Apr 2018 4:33 am
   By Biman Mukherji 

--Oil futures turned lower Wednesday morning in Asia, giving up a bit of the market's biggest gains since the end of 2016 on Tuesday.

--May light, sweet crude on the New York Mercantile Exchange was recently down 0.2% at $65.35 a barrel in the Globex trading session. June Brent fell 0.4% to $70.75 after settling Tuesday at the highest levels since December 2014 for a front-month contract.

--With two days of strong gains for oil as risk assets rebounded on cooling U.S.-China trade tensions, investors are now awaiting weekly U.S. inventory and production data. The American Petroleum Institute late Tuesday said crude and gasoline inventories rose last week; the government's report is seen posting declines for both.

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

(END) Dow Jones Newswires

April 11, 2018 00:33 ET (04:33 GMT)

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