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Global Demand & Supply Pressures At The Fore, Gulf Weather Eyed

OIL

WTI & Brent sit $0.20 above their respective settlement levels after Monday's move lower, which was a direct result of worry re: European mitigation measures surrounding COVID and their impact on oil demand, in addition to a lack of fiscal impetus in DC.

  • In terms of crude specifics, incremental Libyan supply and the evolving weather situation in the U.S. Gulf provide the focal points.
  • The latest round of weekly API inventory estimates is due later today
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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