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Crude futures legged higher in Asia-Pacific.....>

OIL
OIL: Crude futures legged higher in Asia-Pacific dealing after President Xi
delivered a China is open message & pointed to a want for multilateral free
trade agreements, which put a bid into risk assets.
- WTI added $0.40 to trade at $63.80, while Brent added $0.30 to sit at $68.95.
- Traders now focus on Tuesday's API crude inventory estimate, with analysts
looking for a second consecutive headline crude stock draw in Wednesday's
official DoE release.
- The bounce to start the new week is less than ideal for WTI bears who continue
to look for a close below the 100-DMA ($60.95). The $64.12 resistance remains
key this week.
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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