WTI & Brent sit < ~$0.20 than their.............>

OIL: WTI & Brent sit < ~$0.20 than their settlement levels at writing, sticking

to incredibly tight ranges in Asia hours. The slight downtick seen since

settlement is owing to the release of the latest weekly API inventory estimate,

which reportedly showed a surprise headline crude inventory build, coupled with

a larger than expected build in gasoline stocks, a surprise, albeit small,

drawdown in distillate stocks and a small drawdown in stocks at the Cushing hub.

- Tuesday was another choppy/tight session for the major crude benchmarks.

Russia's TASS ran a source report suggesting that "OPEC countries unanimously

support the feasibility of extending the agreement on reduction of oil

production (OPEC+) after March 2020, when it expires; an extension of 3-6 months

is being discussed." The report quoted one source who said "The extension [of

the agreement] after March is the least we can do. But most likely we will not

increase the reduction volume." Elsewhere, Canada's Alberta province revealed

that it will keep leave its oil production limit at a steady level in January.

This came after the longest Canadian rail strike in a decade came to an end, on

the back of a tentative agreement between the operating co. and workers.