WTI & Brent both sit ~$0.40 below their.........>

OIL: WTI & Brent both sit ~$0.40 below their respective settlement levels, in

the wake of reports pointing a surprise build in headline crude stocks in this

week's API inventory estimates. Reports also suggest that was coupled with

larger than expected builds in gasoline and distillate stocks, as well as a

modest draw in stocks at the Cushing hub.

- There was little in the way of crude specific matters driving prices on

Tuesday, with both of the major metrics adding ~$0.75 to Monday's closing levels

come settlement time. Solid domestic data out of the U.S. coupled with some

catch up to Monday's equity rally likely supported crude prices.

- Weekly DoE crude inventory data will draw focus later today.