Oil Prices Edge Up as Market Stabilizes -- Market Talk

Oil prices rose slightly in Asian trading on Monday, continuing last week's stabilization as end-of-year positioning takes place.

--January light, sweet crude on the New York Mercantile Exchange was recently up 0.1% at $57.37 a barrel in the Globex trading session. February Brent rose 0.2% to $63.35.

--While S&P Global Platts Analytics predicts oil supply will grow faster than demand next year, led by further gains in U.S. shale, supplies "will still decline, supporting oil market backwardation and relatively strong nominal prices."

Write to Lucy Craymer at lucy.craymer@wsj.com

(END) Dow Jones Newswires

December 17, 2017 22:57 ET (03:57 GMT)