Crude markets have continued their wander.......>

OIL: Crude markets have continued their wander lower, although both WTI & Brent

trade off low, with both ~$0.85 worse off at writing.

- Crude struggled in post settlement trade on Wednesday, with reports of a

surprise build in the weekly API crude inventory stocks, coupled with larger

than expected builds in distillate & crude stocks, and a small draw at Cushing.

- In Asia, stocks have struggled putting some extra weight on crude.

- Recent sessions have also seen a broader focus on the global oil surplus, as

opposed to geopolitical tensions, providing some weight after the early,

Libya-inspired uptick on Monday. To recap, Wednesday saw the Saudi Energy

Minister play down the impact of the supply shock in Libya, as he pointed to the

OPEC+ group "guaranteeing" market stability.

- Weekly DoE inventory data is due later today.