The aforementioned news re: an October..........>

OIL: The aforementioned news re: an October Sino-U.S. trade meeting allowed the

major crude benchmarks to reverse their API inventory-inspired post-settlement

dips, with WTI & Brent both up by ~$0.20 at writing. Reports pointed to a

surprise, albeit minimal, build in headline crude stocks in the latest API

inventory estimate. The reports also indicated a draw in stocks at Cushing, a

surprise draw in distillate inventories & a smaller than exp. draw in gasoline

stocks. WTI & Brent settled over $2.00 higher on Weds, aided by the positive

risk backdrop & as Russian Energy Min Novak indicated that the country's crude

output would moderate during the month of September vs. August.

- Wednesday also saw the Canadian Federal Court of Appeals reveal that it has

agreed to hear 6 challenges against the approval of the Trans-Mountain pipeline.

- On the Iranian front, Pres. Rouhani revealed that the state will shortly begin

developing centrifuges to speed up the enrichment of uranium, this will be its

next step in scaling back on agreements made under the JCPOA. Meanwhile the U.S.

levied new sanctions on entities associated with Iranian crude supply to Syria.

- The weekly DoE inventory data will draw attention later today.