Crude initially ran higher as Saudi Arabia......>

OIL: Crude initially ran higher as Saudi Arabia intercepted Yemeni launched

missiles over Riyadh, although both WTI & Brent crude futures moved into

negative territory, with no real news flow present.

- WTI last traded $0.30 or so lower at $65.55, while Brent lost around $0.25 to

trade at $70.20.

- The Middle East tensions initially outweighed Friday's uptick in the weekly

Baker Hughes rig count data before WTI ran out of steam in front of the 2018

high of $66.66, topping out at $66.55, Bulls continue to look for a close above

$66.02. The $63.99 support remains key this week. Bears look for a close below

this level to ease bullish pressure and shift initial focus back to $61.45-62.52

where 21 ($62.34) & 55 ($62.50) DMAs are situated.

- Today also signalled the opening of Chinese crude futures.