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Crude stuck to a tight range overnight, with....>

OIL
OIL: Crude stuck to a tight range overnight, with WTI & Brent trading near
unchanged levels at the time of writing.
- This comes after Iraq joined Iran & Venezuela in voicing its opposition to the
touted Saudi/Russia led OPEC+ production hike that could be announced at a
meeting later this month.
- Traders await the latest API inventory estimate, with analysts expecting a
headline crude draw in this week's DoE inventory data.
- WTI bulls take comfort in the lack of follow through on dips below the 100-DMA
($64.88) with focus having returned to $66.35-68.67 where 21 & 55-DMAs are
noted. 
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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