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OIL: Risk-on flows surrounding a SCMP source piece which noted that "the U.S.
and China have tentatively agreed to another truce in their trade war in order
to resume talks aimed at resolving the dispute" have allowed WTI & Brent to pare
the modest losses that were observed in the early part of Asia-Pacific trade.
- This comes after WTI & Brent both managed to settle around $1.50 higher on
Wednesday, drawing support from a bullish round of API & DoE inventory reports.
Wednesday also saw the complex draw support from confirmation that the PES
refinery in Philadelphia will close, which supported RBOB prices.