Oil Edges Lower After Rebound in U.S. Trading

By Anonymous

2345 GMT -- Oil futures are slightly lower in early Asian trading following a rebound in U.S. action left the market little changed for the day. Crude’s pause after a fresh run to 4-year highs is now nearing a week, in the process putting the major commodity at October lows on a settlement basis. But there is no reason to fret as the reasons which drove oil higher through the end of summer—including how much might Iranian production and exports be hit by looming U.S. sanctions—have yet to be resolved. November WTI is down 6 cents at $74.23/barrel and December Brent has traded 15 cents lower at $83.76.

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