Oil Futures Tick Higher After Friday's Pullback

Oil futures rose modestly during Asian trading Monday, reversing some of Friday's pullback that was the biggest in nearly a month for the U.S. benchmark.

--February light, sweet crude on the New York Mercantile Exchange was recently up 0.3% at $61.63 a barrel in the Globex trading session. March Brent rose 0.2% to $67.76.

--Crude has risen for three-straight weeks, although analysts say the rally may be harder to sustain going forward as higher prices are likely to tempt US shale producers to increase their output. Average daily production nationally was at record highs in December at just below 9.8 million barrels, weekly US government data showed.

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

(END) Dow Jones Newswires

January 07, 2018 23:37 ET (04:37 GMT)