Nymex Oil Futures Rising Amid North America Supply Snag
24 November 2017 - 5:59AM
Dow Jones News
By Biman Mukherji
--Nymex oil futures rose in Asian trading Friday as the spread
narrows further between the U.S. and global crude benchmarks.
--January light, sweet crude on the New York Mercantile Exchange
was recently 0.7% above Wednesday's settlement at $58.44 a barrel
in the Globex training session. Brent fell 0.2% from Thursday's
settlement to $63.34.
--Investors are showing optimism that a disruption in the
Keystone oil pipeline to the U.S. from Canada will further shrink
U.S. crude inventories.
--Trading volume are expected to remain subdued due to the
Thanksgiving holiday in the U.S. as investors await next week's
meeting regarding ongoing production caps held by the Organization
of the Petroleum Exporting Countries.
Write to Biman Mukherji at biman.mukherji@wsj.com
(END) Dow Jones Newswires
November 23, 2017 23:44 ET (04:44 GMT)
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