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Delayed Quote. Delayed  - 02/16 11:00:00 pm
61.6 USD   +0.24%
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Brent Slips in Asian Trading After Fresh 3-Year High

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01/16/2018 | 05:44am CET
   By Biman Mukherji 
 

--Brent oil futures slipped in Asian trading after initially holding on to Monday's fresh 3-year high at above $70/barrel.

--March Brent was recently down 0.4% at $69.98 a barrel. On the New York Mercantile Exchange, February light, sweet crude futures was 0.3% above Friday's settlement at $64.49 in the Globex trading session. There was a U.S. holiday on Monday.

--Oil has essentially been a one-way trade the past month, with front-month Brent futures up 16 of the last 19 trading days through Monday while WTI through Friday rose in 16 of the past 20. That makes the market ripe for a pullback, especially if the dollar stages more than a slight rebound.

Write to Biman Mukherji at [email protected]

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