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Geopolitical risks are keeping oil prices.......>

OIL
OIL: Geopolitical risks are keeping oil prices elevated. Brent crude oil trades
at USD65.60/bbl and near the middle of the morning range, while WTI trades at
USD58.06/bbl, up 44 cents off the day's low.
- Rear Admiral Hossein Khanzadi of the Iranian navy has warned that further US
drones could be shot down if they enter Iran's airspace. 
- Further fanning tensions, US President Donald Trump has threatened to impose
additional sanctions on Iran, although for now there are no specific details of
what this would entail.
- CFTC data show a still sizeable net-short position in oil. Net non-commercial
futures contracts in Brent crude oil stands at -51,132, off a recent low of
-60,003.

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