Oil Futures Turn Slightly Lower in Asia

By Biman MukherjiFeaturesDow Jones Newswires

Oil futures were slightly lower by midday Wednesday in Asia after morning gains reversed some of the decline seen Tuesday.

--February light, sweet crude on the New York Mercantile Exchange was recently down 0.1% at $63.65 a barrel in the Globex trading session. March Brent eased 0.1% to $69.06.

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--While some have speculated about the prospect of compliance to ongoing production caps lessening with oil at three-year highs, BMI Research contends there's little risk of slippage. "Continued restraint by Saudi Arabia should cushion any potential impact on sentiment," it adds.

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

(END) Dow Jones Newswires

January 16, 2018 23:37 ET (04:37 GMT)