Oil retreats on Saudi supply reassurance

TOKYO, Sept 18 (Reuters): Oil prices cooled on Wednesday as Saudi Arabia said full oil production would be restored by month's end while caution ahead of an expected US interest rate cut kept wider financial markets in tight ranges.

European shares are expected to tread water, with pan-European Euro Stoxx 50 futures shedding 0.06 per cent, German DAX futures losing 0.1 per cent and FTSE futures down 0.14 per cent.

MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.14 per cent while Japan's Nikkei dipped 0.18 per cent after 10 straight days of gains and China's blue-chip share index rose 0.52 per cent.

Wall Street shares inched up on Tuesday with the S&P 500 gaining 0.26 per cent.