Oil Futures Rebound Some After Monday's Pullback
By Biman Mukherji
--Oil futures rose modestly in Asia on Tuesday after a Monday pullback from their latest 3-plus-year highs.
--May light, sweet crude on the New York Mercantile Exchange was recently up 0.4% at $66.51 a barrel in the Globex trading session. June Brent rose 0.4% to $71.69.
--Analysts say there is underlying strength in the oil markets due to risks from Middle East tensions and as global inventories move back toward five year averages. That despite record U.S. oil production.
Write to Biman Mukherji at [email protected]