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Oil moved lower overnight, with risk appetite...>

OIL
OIL: Oil moved lower overnight, with risk appetite dented after the U.S.
outlined its next round of tariffs to be levied on Chinese goods.
- Reports suggest that the latest API crude inventory estimate pointed a larger
than expected draw in headline crude stocks, with a draw down also observed at
the Cushing hub, according to the same reports.
- WTI failed to challenge the July 09 low ($72.99) overnight, with a break of
the July 09 low ($72.14) required to open up a move lower.
- Participants now look to today's DOE inventory release.
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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