Nymex, Brent Oil Spread Continues to Narrow

By FeaturesDow Jones Newswires

The spread between U.S. and global oil futures continued to narrow Monday, with WTI hitting fresh three-year highs and Brent pulling back slightly.

--March light, sweet crude on the New York Mercantile Exchange was recently up 0.8% at $66.36 a barrel in the Globex trading session while Brent fell 0.1% to $70.43.

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--Phillip Futures said investors could sit on the sidelines and await more data after the number of active U.S. oil rigs jumped last week by the most since March.

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

(END) Dow Jones Newswires

January 28, 2018 23:41 ET (04:41 GMT)

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