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WTI & Brent sit $0.30 & $0.20 above their.......>

OIL
OIL: WTI & Brent sit $0.30 & $0.20 above their respective settlement levels.
- Crude faded ahead of settlement on Monday, as the major benchmarks gave back
their early gains and more.
- Monday's major headlines came from Russia, with Energy Minister Novak noting
that the scenario of crude prices falling to $30/bbl is not excluded if OPEC+ do
not come to a production agreement. This came after the Saudi Energy Minister
noted that Russia is the only holdout nation re: a pact extension.
- Focus today moves to the latest round of API inventory estimates.
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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