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Crude ticked lower overnight, with WTI &........>

OIL
OIL: Crude ticked lower overnight, with WTI & Brent losing $0.20 apiece.
- This comes after oil moved back from highs on Wednesday, after it initially
shrugged off a larger than expected headline crude build (this week's API print
had indicated a drawdown), and a tweet from U.S. President Trump calling for
lower oil prices, to print fresh intraday highs in the NY lunch hour.
- Crude still managed to finish higher on the day, although WTI settled over
$1.00 off the daily high as traders booked profits ahead of the Thanksgiving
weekend & equities moved away from highs into the close.
- Also worth noting that the latest Baker Hughes rig count data showed a
marginal pullback in active U.S. oil rigs.
- NYMEX also hiked WTI margins late Wednesday.
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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