Oil Futures Edge Down in Asian Trading

By Biman Mukherji Features Dow Jones Newswires

Oil futures edge down in Asian trading on Tuesday after settling at their highest level in eight months overnight in the US.

Continue Reading Below

--December Nymex light, sweet crude on the New York Mercantile Exchange was recently down 0.2% at $54.06 a barrel in the Globex trading session. Brent also fell by the same margin to $60.90.

--The outlook for crude oil has turned firmer amid signs of rebalancing in global markets, while S&P Global Platts says there could be a "counter seasonal" fall in U.S. crude oil stocks. Analysts surveyed by S&P Global Platts are looking for a drawdown in U.S. crude oil stocks of 1.4 million barrels in the week ending October 27.

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

(END) Dow Jones Newswires

October 31, 2017 00:19 ET (04:19 GMT)