Oil Futures Edge Higher on Possible Technical Recovery
0024 GMT — Oil futures edge higher in early Asian trade on a possible technical recovery after they posted back-to-back losses overnight. Thursday's oil-price selloff came after 'President Trump indicated the U.S. could be close to a deal in which Iran agrees to forgo nuclear weapons,' NAB's Ray Attrill says in a commentary. 'Were there to be an agreement that results in the lifting of sanctions, Iran has the capability to pump about 4 million barrels of oil per day, up from around 1.4 million barrels currently,' the head of FX Research adds. Front-month WTI crude oil futures are 0.2% higher at $61.75/bbl; front-month Brent crude oil futures are 0.2% higher at $64.65/bbl. (ronnie.harui@wsj.com)
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