Oil Prices Steadies After Latest Three-Year High

By FeaturesDow Jones Newswires

Oil prices were little changed in early Asian trading after hitting fresh three-year highs Friday.

--February light, sweet crude on the New York Mercantile Exchange was recently up 0.1% at $64.39 a barrel in the Globex trading session. March Brent fell 3 cents to $69.84.

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--Oil's strong run has been supported by optimism about global markets rebalancing. But the rally is now beginning to raise concerns about whether major oil producers may begin to not cap production as much as they've agreed to. That as active US oil-drilling rigs rose more than 1% last week.

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

(END) Dow Jones Newswires

January 14, 2018 23:25 ET (04:25 GMT)

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