WTI & Brent sit ~$0.20 below their respective...>

OIL: WTI & Brent sit ~$0.20 below their respective settlement levels, although

neither contract has tested Monday's session low in Asia-Pac hours, after both

shed over $1.00 come settlement time in the first trading of the week.

- Monday bought about a session of repetitive themes for crude, with Coronavirus

worry pressuring the space as OPEC nations pointed to their ability to stabilise

the oil market, while Libya continued to warn of risks to what remains of its

crude production capabilities owing to the ongoing power struggle in the

country.

- Elsewhere Venezuelan issues were highlighted. Platts noted that PDVSA shut

down its final two operating refineries in the country, while BBG reported that

President Maduro "has proposed giving majority shares and control of its oil

industry to big international corporations."

- Weekly API inventory estimates are due for release later today.