Oil Futures Remain Quiet in Asian Trading

By Biman MukherjiFeaturesDow Jones Newswires

Oil futures were little changed in Asian trading on Thursday after the U.S. benchmark moved little overnight despite a bigger-than-concensus decline in U.S. crude and gasoline inventories last week.

--December light, sweet crude on the New York Mercantile Exchange was recently unchanged at $54.30 a barrel in the Globex trading session. January Brent was up 6 cents at $60.56.

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--Though prices have been bolstered of late by the prospect of another extension to ongoing production caps led by the Organization of the Petroleum Exporting Countries, U.S. Bank Wealth Management's Rob Haworth remains "cautious" as "the market remains well-supplied."

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

(END) Dow Jones Newswires

November 02, 2017 00:38 ET (04:38 GMT)