WTI & Brent both sit $0.30 or so higher, with...>

OIL: WTI & Brent both sit $0.30 or so higher, with risk appetite supporting.

- Crude finished a few cents lower Thursday, in the wake of a tweet from U.S.

Pres. Trump calling for increased OPEC production, although buoyancy in risk

assets helped WTI & Brent to pare almost all of their respective losses on the

day. Elsewhere, RTRS reports suggested that the Russian energy minister told his

Saudi counterpart that he cannot guarantee the extension of his country's

production cuts through year-end (when the two met earlier this month),

reportedly pointing to a preference for a 3-month extension of the current deal.

- BBG suggested that U.S. state department has raised questions re: the

Venezuelan oil minister serving as OPEC President, owing to his ties with

Venezuelan President Maduro, amidst the ongoing sanctions against the country. 

- Various derivative contract expirations in the oil complex are also having an

impact on price action. Elsewhere, reports revealed several Libyan oil ports

have been shuttered by adverse weather. WTI crude margins were lowered by ~8%

late Thursday. Also late Thursday, the U.S. coast guard revealed that Houston

Shipping Channel traffic was operating at around ~35% of the usual level.