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Crude struggled in early Asia-Pac dealing,......>

OIL
OIL: Crude struggled in early Asia-Pac dealing, before recovering to trade
around unchanged levels at typing, likely aided by the broader risk-on feel to
the session.
- It would seem that crude traders remain a little more wary of the risks
surrounding a potential second COVID-19 wave, with current focus on a cluster in
Beijing and the broader situation in the U.S. still front and centre.
- A reminder that Monday saw the UAE's energy minister express confidence re:
OPEC+ compliance to the production pact, as he pointed to signs that oil demand
was picking up as some nations ease COVID-19 lockdown restrictions.
- Focus on Tuesday moves to the latest IEA monthly oil market report and the
weekly API crude inventory estimates.
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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