Oil Loses Early Rebound by Midday in Asia

03/01/18 11:05 PM EST
   By Kevin Kingsbury 

--Oil prices shed initial gains by midday trading Friday in Asia as crude lost the tailwind it got from a late-day drop Thursday in the dollar.

--April light, sweet crude on the New York Mercantile Exchange was recently up 2 cents at $61.01 a barrel in the Globex trading session. May Brent rose 0.1% to $63.91.

--Oil futures climbed after Thursday's settlement, helped by a falling dollar as it declined along with U.S. equities in late-afternoon trading. U.S. oil futures rose nearly 1% at their post-settlement high.

--While the WSJ Dollar Index is down about 0.1% in Asian action, optimism regarding oil faded anew as morning trading continued. Crude logged a third-straight decline on Thursday, notching its lowest settlement levels in more than two weeks.


Write to Kevin Kingsbury at kevin.kingsbury@wsj.com


(END) Dow Jones Newswires

March 01, 2018 23:05 ET (04:05 GMT)

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