Oil struggled alongside U.S. equity futures.....>

OIL: Oil struggled alongside U.S. equity futures during Asia-Pac hours, with WTI

& Brent both sitting ~$0.60 below their respective settlement levels. This comes

after crude failed to benefit from the early uptick in global equities on

Wednesday, although that didn't stop it from taking a hit as risk sentiment was

pressured later in the day.

- The latest weekly DoE inventory data revealed a smaller than expected build in

headline crude stocks, larger than expected drawdowns in gasoline & distillate

stocks, alongside a build at the Cushing hub.

- Also worth noting that Platts sources have noted that "the U.S. is preparing

to sanction another Rosneft affiliate for trading Venezuelan crude oil, the

latest step in the Trump administration's effort to starve the Maduro regime of

oil revenue, sources familiar with the plans told S&P Global Platts on

Wednesday."

- Elsewhere, there was a very modest uptick in the latest Libyan production

figures, although this measure remains at very low levels given the ongoing

tension in the country.