Oil Falls to Session Lows as Monday's Pullback Builds

By FeaturesDow Jones Newswires

Oil futures fell to session lows by midday Tuesday in Asia, extending Monday's declines after repeated three-year highs of late.

--March light, sweet crude on the New York Mercantile Exchange was recently down 0.8% at $65.06 a barrel in the Globex trading session. March Brent fell 0.5% to $69.08.

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--The pullback has comes amid stabilization in the dollar, whose sustained declines helped fuel crude's recent strength. Through Monday, WTI was up 8.5% this month and Brent gained 3.9%.

--Meanwhile, a survey of analysts by S&P Global Platts expects the government to report a slight increase to U.S. oil inventories last week after a run of declines. Refinery demand is projected to have dropped amid winter maintenance activity.

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

(END) Dow Jones Newswires

January 29, 2018 23:43 ET (04:43 GMT)

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