A bit of a nothing Asia-Pac session for the.....>

OIL: A bit of a nothing Asia-Pac session for the major crude benchmarks if we

are being honest, with WTI & Brent both ~$0.10 lower than their respective

settlement levels at writing. Monday saw the benchmarks settle a touch higher

(although still shy of intraday highs) after a negative start, as they

benefitted from the risk-on tone that spilled over into U.S. hours.

- Supply side factors were also at play. Local reports covered comments from the

Iranian Oil Minister, who noted that he expects further production cuts to be

agreed at the next OPEC meeting, which is slated for December.

- Questions continue to circle re: the length of the outage for the Keystone

pipeline owing to the well-documented leak in Dakota, with no estimated time for

restart forthcoming at present.

- Elsewhere, Monday saw Saudi announce that it will be lifting OSPs for Asian

customers for the month of December by $0.40/bbl.

- API inventory data will draw attention later on Tuesday.