Crude oil markets have ticked lower at the......>

OIL: Crude oil markets have ticked lower at the start of the week, with WTI &

Brent both $0.30 lower than their respective settlement levels at writing,

although this comes after the benchmarks settled over $2.00 higher on Friday.

- Friday's rally was aided by a solid NFP print, positive developments on the

Sino-U.S. trade front and a dip in active U.S. oil rigs (per the latest Baker

Hughes rig count data).

- However, weekend developments, namely a lack of clarity surrounding the much

awaited Saudi Aramco IPO and continued overproduction by Russia (vs. OPEC+

commitments), despite a narrowing of the country's surplus production vs. its

goal, did little to promote an extension of Friday's move.