Oil Futures Pare Back Early Gains in Asia

By Biman Mukherji Features Dow Jones Newswires

Oil futures were little changed in midday Asian trading after having opened solidly higher on the back of Friday's 2% gains.

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--December Nymex light sweet crude on the New York Mercantile Exchange was recently up 4 cents at $53.94 a barrel in the Globex trading session. Brent fell 7 cents to $60.37, just off its best levels since mid-2015.

--After rallying further on Friday amid expectations that major oil producers will extend their output-cap agreement deep into 2018, prices are finding it hard to sustain upward momentum without fresh triggers.

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

(END) Dow Jones Newswires

October 30, 2017 00:38 ET (04:38 GMT)