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Oil Futures Maintain Overnight Jump; Gasoline Down Again

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09/14/2017 | 06:51am CET
   By Biman Mukherji 
 

--Oil futures were down slightly in Asia following strong overnight gains which followed upbeat data and guidance from the International Energy Agency.

--October Nymex light, sweet crude on the New York Mercantile Exchange was recently down 0.1% at $49.23 a barrel in the Globex trading session. November ICE Brent futures were off 0.2% at $55.01 and October Nymex gasoline fell 0.6% to $1.6367 a gallon after having already dropped in 7 of the prior 8 sessions.

--There are signs of progress in a long-awaited global rebalancing of oil inventories, said ANZ. It added that chatter about a possible extension of the production-cap agreement led by the Organization of the Petroleum Exporting Countries have also helped prices.

Write to Biman Mukherji at [email protected]

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