Oil Prices Maintain Thursday's Gains in Asia -- Market Talk

Published October 27, 2017
Dow Jones Newswires

Oil prices were little changed in Asian trading Friday after overnight gains which saw the U.S. benchmark hit a fresh six-month high and Brent reach a new 2-year top.

--December Nymex light, sweet crude on the New York Mercantile Exchange was recently down 2 cents at $52.62 a barrel in the Globex trading session. Brent rose 5 cents to $59.35.

--With Russia and Saudi Arabia pushing for an extension of ongoing production caps, oil prices have found support as supplies have been falling some. "The improving fundamental picture has created a strong backdrop of a rising price floor," said Helima Croft, global head of commodity strategy at RBC Capital Markets.

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

(END) Dow Jones Newswires

October 27, 2017 00:17 ET (04:17 GMT)