Another series of risk positive flows allowed...>

OIL: Another series of risk positive flows allowed both WTI and Brent to make

their latest breaches of technical resistance levels in Asia-Pac hours, with the

latter pushing above $40.00.

- On the fundamental front it really is all about what sort of deal OPEC+

producers can come to, with expectations for a conference call to be held at

some point over the next couple of weeks.

- Outside of this, the continued, albeit gradual, global re-opening is a

positive on face value.

- The latest round of API inventory estimates were mixed, with a surprise

drawdown in headline crude stocks, accompanied by larger than expected builds in

both the gasoline and distillate readings. Cushing saw another decent enough

sized drawdown.

- OPEC+ matters and the latest DoE inventory report will draw attention on

Wednesday.