U.S. President Trump unwound Monday's early.....>

OIL: U.S. President Trump unwound Monday's early bid on crude that came on the

back of the weekend's OPEC+ summit, with 2019 production cuts discussed by the

cartel & Saudi Arabia cutting export quotas for December. Trump tweeted

"Hopefully, Saudi Arabia and OPEC will not be cutting oil production. Oil prices

should be much lower based on supply!" This wiped out the gains that had been

lodged and then some, with WTI extending below $60 as a result.

- WTI & Brent trade $0.90 & $0.70 below settlement levels at writing after

broader risk aversion pushed crude lower in post-settlement trade on Monday,

although the benchmarks have managed to trade off of worst levels overnight as

warmer rhetoric surrounding U.S. & Chinese trade matters alleviated at least

some of the pressure in Asia-Pacific trade.

- Traders focus on the weekly API crude inventory data, due later today, with

median expectations of a headline crude build of 3.2mn bbls in Wednesday's DoE

inventory release.