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Not much doing for crude in Asia-Pac hours......>

OIL
OIL: Not much doing for crude in Asia-Pac hours with Brent & WTI both trading
~$0.30 or so lower than their respective settlement levels at writing after
reports of a bearish API inventory report (including a surprise build in
headline crude stocks, build at the Cushing hub, a larger than expected build in
gasoline stocks and a smaller than expected drawdown in distillate stocks)
helped crude lower in post-settlement trade on Tuesday.
- This came after both benchmarks settled over $1 lower on Tuesday, with Trump
impeachment matters, hawkish Trump comments re: China & Iran and soft EZ & U.S.
sentiment metrics hurting the demand side of the equation.
- DoE inventory data will be eyed 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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