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WTI added $0.40, while Brent added $0.30........>

OIL
OIL: WTI added $0.40, while Brent added $0.30 after reports suggested that the
latest API oil inventory data revealed a large headline draw in headline crude
stocks ahead of Thursday's official DoE inventory release.
- Crude has garnered a bid on Tuesday as the Saudi cabinet confirmed that it is
willing to use the country's spare capacity as needed, before falling as
momentum faltered at multi-year highs, while Iran President Rouhani "hinted at a
threat" to neighbouring countries exports if "oils sales are halted."
- WTI's Bollinger top ($75.76) and overbought daily studies remain the key
concerns for bulls and limit follow through. Bears now need a close below $73.50
to gain breathing room.
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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