Oil Futures Rebound Some in Asian Trading

By FeaturesDow Jones Newswires

Oil futures rose in Asian trading Monday, reversing some of last week's modest pullback that ended a month-long stretch of nearly uninterrupted gains to three-year highs.

--February light, sweet crude on the New York Mercantile Exchange was recently up 0.3% at $63.58 a barrel in the Globex trading session. March Brent rose 0.4% to $68.87.

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--Beyond a natural pullback following the gains seen before and after the year-end holidays, weighing on oil last week was prospects of whether high oil prices might encourage more output. But Saudi Arabia's energy minister said Sunday that major producers should keep coordinating their activities to bring supply and demand into balance and maintain such a climate.

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

(END) Dow Jones Newswires

January 21, 2018 23:27 ET (04:27 GMT)

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