Oil Prices Pare Earlier Day Gains in Asia

Oil futures pared some of their modest morning gains in Asia as investors take stock of the market's strong September bounce.

--After trading slightly higher early morning, November Nymex light, sweet crude on the New York Mercantile Exchange was recently down 5 cents at $51.51 a barrel in the Globex trading session. December Brent stood 3 cents higher at $57.19.

--Both the U.S. and global oil benchmarks started Friday's trading with gains of just under 10% for September amid optimism that a years-long supply glut will start shrinking notably soon. On tap later Friday is the weekly U.S. oil-rig data from Baker Hughes Inc.

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

(END) Dow Jones Newswires

September 29, 2017 00:45 ET (04:45 GMT)