WTI added $0.30, as Brent lost $0.30, with......>

OIL: WTI added $0.30, as Brent lost $0.30, with the OPEC+ in Vienna dominating

price action.

- Chances of a deal at the summit have increased after the main protagonist

pushing back against any production increase, Iran, seemingly softened its tone,

as Iranian oil minister Zanganeh suggested that cartel members that had cut more

than required in recent months could increase output back to higher agreed

quotas. Elsewhere Saudi oil minister Al-Falih suggested that OPEC is "converging

towards a good, positive decision" on raising output levels.

- Multiple source reports have suggested that Saudi is pushing for the cartel

and its partners to increase production by at least 600K bpd.

- WTI's $66.49-68.52 resistance region where the 21 & 55-DMAs are located

remains key. Bulls need a close above $68.52 to end bearish hopes and shift

initial focus back to $70.86-72.70. Bears now need a close below the bull

channel base ($63.36) off Aug 30 lows to reconfirm the bearish bias and

initially pressure $61.43.