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Crude Marginally Higher

OIL

WTI & Brent sit ~$0.30 higher on the day at typing. This comes after a more supportive risk environment, geopolitical tension centring on Russia, a bid in U.S. natural gas futures and a softer DXY supported crude on Monday. The weekly API & DoE U.S. crude inventory figures will provide some interest over the next ~36 hours, but it will be Wednesday’s OPEC+ meeting that garners most of the attention (note that consensus looks for the group to press ahead with the pre-prescribed 400K bpd cumulative monthly output lift).

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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