Crude Edges Lower

WTI & Brent sit ~$0.20 below their respective settlement levels, with the downtick coming alongside some light pressure for e-minis during Asia-Pac hours. It should be noted that the modest downtick comes after 5 consecutive weekly gains for the major crude benchmarks.

• Weekend developments saw Saudi Aramco raise all pricing of crude exports to Asia for the month of January. Pricing was more mixed in other regions, although Aramco lowered all of its shipping differentials for the U.S.
• Elsewhere, Iranian state media noted that the country has instructed its oil ministry to prepare facilities for production & sale of crude at full capacity within a 3-month horizon, which will no doubt draw some focus from OPEC+.