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WTI and Brent sit ~$0.20 below settlement.......>

OIL
OIL: WTI and Brent sit ~$0.20 below settlement levels, recovering from overnight
lows as e-minis edge higher.
- Tuesday's API crude inventory estimates revealed a surprise, large build in
headline crude stocks, alongside marginally larger than expected drawdowns in
gasoline and distillate stocks, as well as an uptick in stocks at the Cushing
hub.
- A reminder that WTI and Brent added over $1.00 apiece on Tuesday, against a
backdrop of broader risk positive price action, before easing from best levels
alongside U.S. equities ahead of settlement.
- DoE inventory data headlines 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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