Shallow upticks for the major crude.............>

OIL: Shallow upticks for the major crude benchmarks in Asia, with WTI +~$0.30

and Brent +~0.20 from their respective settlement levels at typing, drawing

support from the latest weekly API inventory estimates which reportedly revealed

a shallower than exp. build in headline crude stocks, vs. less bullish metrics

on the product side; a surprise, albeit modest, build in gasoline stocks, a

smaller than expected draw in distillate stocks, as well as a build in stocks at

the Cushing hub.

- Tuesday saw both metrics finish over $1.00 lower on the day, pressured by a

heavy session for equities and continued cautious rhetoric re: demand from IEA

chief Birol/broader coronavirus worry.

- Attention now moves to the weekly DoE inventory data due later today, as well

as the broader coronavirus backdrop.