Crude drew support from source reports which....>

OIL: Crude drew support from source reports which suggested that US President

Trump has all but decided to withdraw from the Iran nuclear deal, which allowed

oil to move off of session lows.

- WTI added $0.15 to trade at $67.80, while Brent lost $0.15 to trade at $73.20.

- Crude was pressured on Wednesday after the official DoE inventory crude

headline recorded a much larger gain than exp, with US production inching

higher.

- WTI's rejections ahead of YtD highs are a concern for bulls when combined with

daily studies correcting from overbought levels & the proximity of the Bollinger

top. Bears look for a close below the 21-DMA ($66.94) to add weight to the case

for a correction back to $63.75-64.10 where the 55-DMA ($64.09) is noted. Bulls

continue to look for a close above the YtD high ($69.55) to reconfirm focus on

$71.37-73.25 where the medium bull channel top is situated.