Oil Prices Mixed; Likely to Be Supported Over Longer Term

0040 GMT — Oil prices are mixed in the early morning Asian session on possible position adjustment. The downside for oil prices should be supported in the longer term due to OPEC+ production cuts and a more-resilient-than-expected U.S. economy, says Fawad Razaqzada, market analyst at City Index and FOREX.com, in an email. The more time that transpires, the tighter the oil market will become, as the OPEC+ cuts filter through, Razaqzada adds. Front-month WTI crude oil futures are 0.1% higher at $71.90/bbl; front-month Brent crude oil futures are 0.1% lower at $76.20/bbl. (ronnie.harui@wsj.com)