Oil markets will likely garner the most.........>

OIL: Oil markets will likely garner the most interest early on, with the switch

in U.S. clocks creating a difference in opening times for CME WTI & ICE Brent

contracts today. OPEC+'s failure to come to an agreement at last week's meeting

sent crude into a tailspin at the back end of last week, with further follow

through set to take place at the start of this week on the back of weekend news

flow. As Russian Energy Min Novak left the Vienna gathering on Friday, he noted

that everyone can pump at will come April 1. Saudi Arabia seemingly reacted over

the weekend, with BBG sources suggesting that the Kingdom plans to boost

production to well over 10mn bpd in April (this may even top 12mn bpd), against

estimates of 9.7mn bpd for the month of March, while it has slashed crude prices

to U.S., Asian & European customers, offering "unprecedented discounts."

- Various source reports point to an OPEC+ JTC gathering occurring on March 18.

- Many analysts point to the Saudi power move as an effort to squeeze shale

producers in the U.S.. Various commentary pieces have pointed to the pressure

that is set to fall on the shale space, with suggestions that the industry is

not adequately hedged for sustained moves under $45 in WTI.