Oil Prices Pare Earlier Day Gains in Asia

By Biman MukherjiFeaturesDow Jones Newswires

Oil futures pared some of their modest morning gains in Asia as investors take stock of the market's strong September bounce.

--After trading slightly higher early morning, November Nymex light, sweet crude on the New York Mercantile Exchange was recently down 5 cents at $51.51 a barrel in the Globex trading session. December Brent stood 3 cents higher at $57.19.

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--Both the U.S. and global oil benchmarks started Friday's trading with gains of just under 10% for September amid optimism that a years-long supply glut will start shrinking notably soon. On tap later Friday is the weekly U.S. oil-rig data from Baker Hughes Inc.

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

(END) Dow Jones Newswires

September 29, 2017 00:45 ET (04:45 GMT)