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The major crude benchmarks were on track to.....>

OIL
OIL: The major crude benchmarks were on track to record a loss for the week as
trade war & EM worry dampened risk sentiment. WTI and Brent traded just shy of
their respective settlement levels.
- Thursday saw the larger than exp. builds in products (distillates & gasoline),
along with a build in Cushing inventories, outweigh the larger than expected
headline crude drawdown in the latest weekly DoE crude inventory release.
- Thursday also bought about comments from U.S. Secretary of State Mike Pompeo,
who noted that although the U.S. will consider waivers for the purchases of
Iranian oil where appropriate, it expects Iranian crude exports to fall to zero.
- Protests in Basra, Iraq continue.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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