Oil Futures Ease Amid After End-of-Week Jump

By Lucy Craymer Features Dow Jones Newswires

Oil futures fell in Asian trading, reversing some of Friday's rally that was stoked by data showing Chinese crude imports were growing strongly.

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--January light, sweet crude on the New York Mercantile Exchange was recently down 0.5% at $57.08 a barrel in the Globex trading session. February Brent fell 0.5% to $63.10.

--The Chinese trade data highlighted potential of strong global demand. That, along with the ongoing production caps on many of the world's largest producers, could result in a quicker rebalancing of supply and demand after years of oversupply.

--OCBC Bank said that sentiment was supported by reported comments Sunday from Kuwait Oil Minister Issam Almarzooq that "there is a possibility" the deal ends "if the market is rebalanced by June."

Write to Lucy Craymer at lucy.craymer@wsj.com

(END) Dow Jones Newswires

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December 10, 2017 22:43 ET (03:43 GMT)