Oil Futures Maintain Morning Bounce in Asia

07/03/18 01:22 AM EDT

By Biman Mukherji

 

--Oil futures maintained their morning jump in early-afternoon Asian trading Tuesday following a pullback on Monday led by the Brent international benchmark.

--August light, sweet crude on the New York Mercantile Exchange was recently up 0.8% at $74.54 a barrel in the Globex trading session. September Brent was up 0.6% to $77.74.

--"Many forces are currently supporting" the market, said John Driscoll, chief strategist at Singapore-based JTD Energy. They include ongoing production declines in Venezuela, some 850,000 barrels a day of Libyan exports not occurring and a "relentless wave of geopolitical interference" by the White House in the oil markets.

 

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

 

(END) Dow Jones Newswires

July 03, 2018 01:22 ET (05:22 GMT)

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