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US Oil Prices Pull Back Some in Asia

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01/12/2018 | 05:30am CEST
   By Biman Mukherji 
 

--U.S. oil futures reversed Thursday's gain in Asian trading Friday, ahead of President Donald Trump's decision on extended sanctions waivers for Iran.

--February light, sweet crude on the New York Mercantile Exchange was recently down 0.3% at $63.61 a barrel in the Globex trading session. March Brent fell a penny to $69.25.

--While anti-government protests in Iran and the possibility of U.S. imposing sanctions again on the country has helped the ongoing crude rally to three-year highs, analysts are cautious as further moves are likely to depend on whether U.S. shale production picks up because of the higher prices.

Write to Biman Mukherji at [email protected]

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