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Bouncing Back In Asia

OIL

WTI and Brent futures sit ~$0.70 above their respective settlement levels after shedding somewhere in the neighbourhood of ~$1.00 come settlement time on Thursday. In terms of idiosyncratic news flow, the potential for a slower than expected resumption of a PEMEX production outage has become apparent, per RTRs sources. Elsewhere, U.S. energy companies have started airlifting workers from their Gulf of Mexico oil production platforms and shutting in production owing to the well-documented hurricane situation in the region. Speculation surrounding the potential for a looser credit situation in China may also be providing some support during Asia-Pac trade.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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