Oil Remains Down Slightly in Asia After Wednesday Bounce
By Biman Mukherji
--Oil futures were remained modestly lower in midday Asian trading Thursday following the Wednesday rebound in the U.S. following inventory declines last week for crude and petroleum products.
--July light, sweet crude on the New York Mercantile Exchange was recently down 1 cent at $66.63 a barrel in the Globex trading session. August Brent fell 0.3% to $76.54.
--Continuing to hang over the market is next week's meeting of the Organization of the Petroleum Exporting Countries, where 18-month-old production caps could be raised.
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