Oil Prices Edge Higher in Asia After Monday's Pullback
By Biman Mukherji
--Oil prices rose slightly by midday Tuesday in Asia following Monday declines that reversed week-end gains following the extension of ongoing production caps.
--January light, sweet crude on the New York Mercantile Exchange was recently up 0.2% at $57.59 a barrel in the Globex trading session. February Brent gained 0.1% to $62.53.
--As the production deal out of the way, the market will be data-dependent for now. Analysts polled by S&P Global Platts expect US oil stockpiles to have fallen 4.1 million barrels last week and gasoline to have risen 2.7 million amid increased refinery utilization rates.
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(END) Dow Jones Newswires
December 04, 2017 23:23 ET (04:23 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.