Oil Futures Maintain Overnight Gains Ahead of OPEC Meeting

By Biman Mukherji Features Dow Jones Newswires

Oil futures remained steady in midday Asia trading with Wednesday's settlement levels, holding on to overnight gains even as the dollar has continued to rise.

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--November Nymex light, sweet crude on the New York Mercantile Exchange was recently up 4 cents at $50.73 a barrel in the Globex trading session while ICE Brent fell 8 cents to $56.21. Both on Wednesday set fresh multi-month closing highs.

--On tap Friday is a meeting involving the Organization of the Petroleum Exporting Countries and non-OPEC members regarding their ongoing production-cap agreement. The prospect of another extension or deeper reductions would add to already-bullish sentiment in some quarters that this year's output maximums are starting to help cut global inventories.

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

(END) Dow Jones Newswires

September 21, 2017 00:33 ET (04:33 GMT)