Oil Futures Rise Amid Supply Tightness

Oil futures were higher in early Asian trade amid supply tightness.

0054 GMT -- Oil Futures are higher during early Asian trading amid tight supply. Oil prices are up on tight supply, but the economic outlook is a major counter-risk to the price. This was stated by Oanda analyst Craig Erlam in a recent note. He adds that risk aversion on the markets may weigh down oil prices. WTI front-month is up 0.3% at $90.69/bbl, while Brent is 0.3% higher. (EMAIL).