Oil Futures Ease Amid After End-of-Week Jump

By Lucy CraymerFeaturesDow Jones Newswires

Oil futures fell in Asian trading, reversing some of Friday's rally that was stoked by data showing Chinese crude imports were growing strongly.

--January light, sweet crude on the New York Mercantile Exchange was recently down 0.5% at $57.08 a barrel in the Globex trading session. February Brent fell 0.5% to $63.10.

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--The Chinese trade data highlighted potential of strong global demand. That, along with the ongoing production caps on many of the world's largest producers, could result in a quicker rebalancing of supply and demand after years of oversupply.

--OCBC Bank said that sentiment was supported by reported comments Sunday from Kuwait Oil Minister Issam Almarzooq that "there is a possibility" the deal ends "if the market is rebalanced by June."

Write to Lucy Craymer at lucy.craymer@wsj.com

(END) Dow Jones Newswires

December 10, 2017 22:43 ET (03:43 GMT)