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Broader Risk Weighs

OIL

WTI & Brent sit ~$0.25 below their respective settlement levels at typing, with the broader risk negative flows and marginal uptick in the DXY weighing.

  • Fiscal impasse in DC applied some pressure, with mixed idiosyncratic matters in play for crude.
  • To recap, the latest DoE inventory data provided some discrepancies when compared to the API reading, while the latest weekly U.S. crude production reading pulled back, owing to the weather disruptions in the Gulf of Mexico.
  • Elsewhere, Libyan officials pointed to incremental increases in the nation's crude production, although their year-end estimate (1.0mn bpd) is still a little shy of end of 2019 levels (1.2mn bpd)
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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