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WTI & Brent registered modest gains.............>

OIL
OIL: WTI & Brent registered modest gains overnight, after oil surrendered some
its recent move higher Thursday, with focus on the potential for additional
Saudi & Russian oil production capacity.
- Thursday saw Saudi energy minister Al-Falih state that OPEC has some 1.3mn bpd
of extra capacity.
- Elsewhere Thursday, Russian energy minister Novak noted that he can't rule out
oil hitting $100/bbl, while U.S. national security advisor Bolton said that the
U.S. "objective is that there would be no waivers for purchasers of Iranian
crude, we could look at possible cuts leading to zero."
- Risk off sentiment from the shift higher in U.S. yields also weighed on crude
on Thursday.
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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