Oil is flat in Asia-Pacific dealing, WTI is.....>

OIL: Oil is flat in Asia-Pacific dealing, WTI is unchanged at $59.19, with Brent

up a little over $0.10 at $62.85.

- Tuesday's post-settlement trade saw crude soften as the weekly API inventory

data pointed to a headline crude build of 3.95mln barrels, larger than the

estimated 2.8mln consensus. Cushing stocks fell by 2.3mln barrels, while

gasoline stocks surpassed the estimated build of 1.2mln barrels, registering a

4.8mln rise. Meanwhile distillate inventories rose by 1.1mln barrels, in line

with estimates.

- The softer dollar has helped crude regain its API inspired losses, as

participants eye Wednesday's official DoE inventory release.

- In terms of technicals, support lies at $57.88, which represents the Feb 9

low, while initial resistance is noted at $59.53, yesterday's high. In terms of

the bigger picture, repeated failures to trouble 2018 highs resulted in a

sell-off that sees immediate focus on the 100-DMA at $57.67.