Oil Futures Pull Back Some After Overnight Gains

By Biman MukherjiFeaturesDow Jones Newswires

Oil futures pull back some in Asian trading on Friday, following overnight gains on a surge in gasoline futures, driven by concerns that shipments were being sharply curtailed in the wake of Harvey.

--On the New York Mercantile Exchange, light, sweet crude futures for delivery in October traded 0.6% lower at $46.94 a barrel in the Globex electronic session. November Brent crude on London's ICE Futures exchange fell 0.2% to $52.75 a barrel.

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--October Nymex gasoline was down 0.3% at $1.7730 a gallon.

--"Storm Harvey continues to send ripple effects through the oil market. The longer the Gulf refinery outages last, the wider the impact will be, and now, headlines suggest that some northeast refiners are scrambling," said Helima Croft, global head of commodity strategy at RBC Capital Markets.

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

(END) Dow Jones Newswires

September 01, 2017 00:09 ET (04:09 GMT)