Oil Futures Ease in Asian Trading After Fresh 3-Year Highs

Oil futures eased slightly in Asian trading Thursday from fresh three years highs, though the market remains bolstered by still-falling U.S. crude inventories and a possible reinstatement of American sanctions on Iran.

--February light, sweet crude on the New York Mercantile Exchange was recently down 0.1% at $63.53 a barrel in the Globex trading session. March Brent fell 0.1% to $69.10.

--Investors are continuing to make bullish bets, but the rally is looking stretched to BMI Research, with the market vulnerable to seasonal reductions in demand and risks from lower compliance to OPEC-led production caps with the recent price rally.

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

(END) Dow Jones Newswires

January 10, 2018 23:43 ET (04:43 GMT)