The major oil benchmarks struggled overnight,...>

OIL: The major oil benchmarks struggled overnight, as risk appetite was dented.

- WTI last $0.40 lower, with Brent $0.50 worse off.

- The Globe & Mail has reported that "Alberta Premier Rachel Notley is expected

to announce a $2-billion private investment in a partial upgrading facility

designed to allow the province's oil sector to squeeze more crude into

overcrowded pipelines." The announcement is exp. Tuesday. This comes after BBG

pointed to modest easing in the province's oil curtailment & rationing.

- Elsewhere TransCanada said that it will start clearing trees and foliage next

week for the northern route of its planned Keystone XL pipeline.

- Monday also saw reports suggesting that Iraq's southern crude exports were

little changed from Dec thus far in Jan, in spite of the OPEC+ production

agreement.