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Oil rallied alongside risk assets overnight,....>

OIL
OIL: Oil rallied alongside risk assets overnight, with WTI last +$0.40, as Brent
added $0.50.
- This comes after the major crude benchmarks lodged modest losses on Monday, as
the USD advanced.
- Monday also saw the U.S. Tsy amend some of PDVSA's licences, authorising some
of Venezuela's state owned oil company's transactions.
- Elsewhere, Platts reported that Iraq's January crude production topped that
prescribed by the OPEC+ agreement.
- Finally, Libya's Sharara oilfield has been secured by the military group loyal
to the parallel government in the East, but the armed forces have said that they
will return the field to the NOC.
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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