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Oil Futures Rebound Some in Asia After Overnight Slide

2 Aug 2018 4:41 am

By Biman Mukherji

--Oil futures rebounded slightly in Asian trading on Thursday after day-earlier pressure on rising output from Saudi Arabia and Russia along with rising U.S. stockpiles.

--September light, sweet crude on the New York Mercantile Exchange was recently up 0.2% at $67.77 a barrel in the Globex trading session. October Brent gained 0.2% to $72.56.

--Fundamentals, like those weighing on Wednesday's trading, indicate that crude prices are susceptible to further declines, said Kevin Morgan, senior derivatives dealer at OM Financial. He added that any jumps will likely be sold into by traders.

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

(END) Dow Jones Newswires

August 02, 2018 00:41 ET (04:41 GMT)

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