The major crude benchmarks trade mixed at.......>

OIL: The major crude benchmarks trade mixed at writing, with WTI ~$0.10 weaker

and Brent trading $0.10 above settlement. A broader risk-off feel offset supply

side worry in Asia-Pacific hours. The U.S. has sent patriot missiles to the

Gulf, building further on the recently announced deterrent for Iran. The head of

the Iranian Revolutionary Guard has noted that such a move presents a "target"

as opposed to the threat that it once did. Elsewhere, U.S. Secretary of State

Pompeo noted that the White House would "of course" welcome the opportunity to

negotiate with Tehran in an interview with CNBC. That wasn't it for the Gulf.

The weekend saw the UAE suggest that 4 commercial ships off its eastern coast

"were subjected to sabotage operations." This came just hours after Iranian and

Lebanese media outlets aired false reports of explosions at a nearby UAE port.

- Friday saw the U.S. slap fresh sanctions on Venezuelan linked-entities, while

Venezuelan opposition leader Guaido revealed that he instructed his political

envoy in Washington to immediately open relations with the U.S. military in a

bid to bring more pressure on President Maduro to resign.

- Friday saw 2 fewer active oil rigs in the latest U.S. Baker Hughes rig count.