Nymex Oil Futures Rising Amid North America Supply Snag

Nymex oil futures rose in Asian trading Friday as the spread narrows further between the U.S. and global crude benchmarks.

--January light, sweet crude on the New York Mercantile Exchange was recently 0.7% above Wednesday's settlement at $58.44 a barrel in the Globex training session. Brent fell 0.2% from Thursday's settlement to $63.34.

--Investors are showing optimism that a disruption in the Keystone oil pipeline to the U.S. from Canada will further shrink U.S. crude inventories.

--Trading volume are expected to remain subdued due to the Thanksgiving holiday in the U.S. as investors await next week's meeting regarding ongoing production caps held by the Organization of the Petroleum Exporting Countries.

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

(END) Dow Jones Newswires

November 23, 2017 23:44 ET (04:44 GMT)