Oil futures fell modestly by midday trading Tuesday in Asia, following muted action a day earlier as investors continued to weigh the supply-and-demand picture.
--December light, sweet crude on the New York Mercantile Exchange was recently down 0.2% at $56.63 a barrel in the Globex training session. January Brent eased 0.3% to $62.97.
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--On watch is weekly U.S. inventory data later Tuesday from the American Petroleum Institute and developments in the run-up to month-end meeting of the Organization of the Petroleum Exporting Countries. At that gathering, ongoing production cap are expected to be extended again.
--Strong refinery margins in the U.S. and fuel-production outages in Mexico, the largest importer of American oil, will encourage refiners to delay scheduled maintenance, says BMI Research. That should continue pushing down U.S. stockpiles, it adds.
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(END) Dow Jones Newswires
November 13, 2017 23:46 ET (04:46 GMT)