12-28-17 11:53 PM EST | Email Article
   By Biman Mukherji 

--Oil futures rallied anew in Friday morning Asian trading after initial softness, setting the stage for both to log fresh 2017 settlement highs.

--February light, sweet crude on the New York Mercantile Exchange was recently up 0.7% at $60.25 a barrel in the Globex trading session. March Brent rose 0.6% to $66.55.

--Through Thursday, the US benchmark had gained 11% this year, versus 17% for the global Brent standard. The market has improved amid optimism about years of oversupply ebbing, capped by rising demand and the OPEC-led production-cap deal being extended through 2018. Both have been at 2 1/2-year highs of late.


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


(END) Dow Jones Newswires

December 28, 2017 23:53 ET (04:53 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
Add a Comment

Try Premium Membership today. Your first 14 days are free of charge. Start my Premium Membership Trial.
Sponsored Links
Buy a Link Now
Sponsor Center
Content Partners