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Doubts over the likelihood of a long-term.......>

OIL
OIL: Doubts over the likelihood of a long-term trade deal between the US and
China is keeping pressure on oil.
- Brent crude has traded down to USD59.56/bbl from a session high of
USD59.78/bbl. WTI trades at USD54.27/bbl in the middle of the day's range.
- Last week's higher than expected US crude inventory data is keeping oil
weighed down. Inventories increased by 5.7mn barrels last week, 500k above
consensus.
- There is, however, some speculation among traders that the soft patch could
trigger action from OPEC, which could opt to deepen production cuts. 

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