Oil Futures Sees Morning Gains Fade in Asia

03/08/18 11:15 PM EST
   By Biman Mukherji 

--Oil futures shed most of its gains in Asian trading by midday Friday as the market continues to be overshadowed by record U.S. production.

--April light, sweet crude on the New York Mercantile Exchange was recently up 7 cents at $60.19 a barrel in the Globex trading session. May Brent rose 0.2% to $63.75.

--The market fell another 1%-plus on Thursday after Wednesday's post-data selling. With the dollar generally steady for now, the focus is on the supply-demand picture. U.S. weekly rig-count data from Baker Hughes will likely provide fresh cues about oil production there later in 2018.


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


(END) Dow Jones Newswires

March 08, 2018 23:15 ET (04:15 GMT)

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