Oil markets continue to edge higher after.......>

OIL: Oil markets continue to edge higher after yesterday's reports pointing to &

subsequent confirmation that the U.S. is removing the waivers on sanctions

pertaining to importing Iranian crude oil, allowed oil to reach multi-month

highs. WTI & Brent last trade $0.30-40 higher apiece, testing their respective

Monday peaks.

- In response to the latest move from the U.S. Iran, threatened to shut down the

Strait of Hormuz (again). China and Turkey reiterated their opposition to the

U.S. re: this matter, while the Saudi Energy Minister noted that OPEC will

co-ordinate internally to maintain the balance of the oil market. This came

after U.S. President Trump tweeted "Saudi Arabia and others in OPEC will more

than make up the oil flow difference in our now full sanctions on Iranian oil."

- Elsewhere, questions remain re: the Russian reaction after the country

highlighted the higher prices vs. lower market share dilemma that the OPEC+

production pact brings earlier this month.

- Continued conflict in Libya also warrants attention.