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Middle East dynamics remain front & centre,.....>

OIL
OIL: Middle East dynamics remain front & centre, with WTI & Brent $0.60 & $0.70
above settlement, back from early highs. Late Friday saw the Pentagon disclose
that it will deploy forces to the M. East following a Saudi request. The forces
will be "defensive in nature and primarily focused on air and missile defence."
- Elsewhere, the WSJ released several source reports over the weekend. One
suggested that "Houthi militants have warned that Iran is preparing a follow-up
strike to the missile & drone attack that crippled Saudi Arabia's oil industry."
The Journal also ran a story suggesting it may take many months for Aramco
executives to restore operations to full working order in the wake of the recent
attacks. Another piece came via the Nikkei, suggesting that "Saudi Aramco has
notified Japan's top oil distributor about a potential change in shipments,
stoking concerns about the kingdom's ability to supply crude following attacks
on its major refineries a week ago."
- Also worth flagging that the verbal jousting between U.S. Sec of State Pompeo
& various Iranian officials continued over the weekend, with the UNGA set to
provide the next arena to discuss the "Iranian situation."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities

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