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Oil is slightly higher in Asia-Pac trade; WTI last up $0.02 from settlement levels at $0.73.68/bbl while Brent is above $75/bbl for the first time in two years up $0.24 at $75.14/bbl. Key resistance and the bull trigger remains $72.99, Jun 16. A break of this level would confirm a resumption of the underlying uptrend. Elsewhere China has reduced its crude oil import quota for private oil refiners by about 35% compared to last year, amid a government crackdown on the sector. Markets look ahead to API inventory data later today.