Oil Futures Hold Steady in Asia Trade Amid Lack of Trading Cues
Oil futures held steady in Asian trade on Thursday, after slight declines overnight in the U.S., with the market staying in a holding pattern on a lack of fresh trading cues.
--December light, sweet crude on the New York Mercantile Exchange was recently up 0.1% at $56.89 a barrel in the Globex training session. January Brent rose 0.2% at $63.62.
--Despite an unexpected rise in U.S. crude supplies last week, both Nymex and Brent futures settled at their third-highest levels of the year Wednesday, amid indications of tightening in an over-supplied market.
--Fresh price cues are seen coming from a meeting at the end of this month to decide on an extension of a production cap by members of the Organization of the Petroleum Exporting Countries and others, including Russia.
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(END) Dow Jones Newswires
November 08, 2017 23:33 ET (04:33 GMT)