Oil Prices Edge Higher in Asia After Monday's Pullback

By Biman Mukherji Features Dow Jones Newswires

Oil prices rose slightly by midday Tuesday in Asia following Monday declines that reversed week-end gains following the extension of ongoing production caps.

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--January light, sweet crude on the New York Mercantile Exchange was recently up 0.2% at $57.59 a barrel in the Globex trading session. February Brent gained 0.1% to $62.53.

--As the production deal out of the way, the market will be data-dependent for now. Analysts polled by S&P Global Platts expect US oil stockpiles to have fallen 4.1 million barrels last week and gasoline to have risen 2.7 million amid increased refinery utilization rates.

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

(END) Dow Jones Newswires

December 04, 2017 23:23 ET (04:23 GMT)