WTI & Brent have held to tight ranges...........>

OIL: WTI & Brent have held to tight ranges overnight, with the benchmarks

trading $0.10 & $0.20 lower respectively at writing.

- Worth highlighting the latest Platts OPEC survey, which suggested that "OPEC

pumped the fewest barrels since March 2015 in January."

- Elsewhere, a military group has secured Libya's El-Sharara oilfield, the

country's largest, taking it "out of rebel hands." The military group already

controls the east of the country, encompassing Libya's second largest city, and

advanced into the south last month. The group is loyal to a parallel

administration. This came after news revealed that all of the country's ports

had closed due to bad weather.

- The latest DoE inventory report revealed a slightly smaller than exp. headline

crude build, with gasoline stocks rising at a slightly slower rate than exp.

Distillates provided a larger drawdown than exp., while Cushing stocks rose.

- The Venezuelan situation continues to draw attention, with the U.S. leaving

all options on the table, while the rival leadership factions tussle over the

country's oil assets.