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Ticking Higher In Asia

OIL

WTI & Brent sit just above their respective settlement levels, aided by the aforementioned uptick in regional equity indices during Asia-Pac trade. Less worry surrounding spill over from China Evergrande has supported the broader risk complex over the last 24 hours or so.

  • Wednesday saw Iraq became the latest OPEC member to tip its hat to spare capacity that it currently has when it comes to crude production.
  • Wednesday's official DoE inventory release wasn't as bullish as the API estimates that came on Tuesday, although worry surrounding the potential for deeper U.S. sanctions on Iran quickly reinstated the bid on Wednesday.
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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