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WTI & Brent hover around settlement levels at...>

OIL
OIL: WTI & Brent hover around settlement levels at writing after the benchmarks
gave back Monday's post-settlement gains on the back of the latest round of
trade related comments from U.S. Tsy Sec Mnuchin & TR Lighthizer.
- Monday saw crude recoup early losses which came on the back of broader
risk-off flows stemming from Trump's latest Twitter tirade re: China. Worry over
the U.S. deployment of an aircraft carrier and bombing squad to the Gulf, as a
"deterrent" to Iran, helped to stem the losses, with a recovery in the U.S. cash
equity space also providing and underlying bid.
- On the supply front, Aiteo shuttered the Nembe Creek pipeline in Nigeria on
the back of the discovery of fresh leaks.
- API inventory data provides the highlight for participants on Tuesday.
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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