WTI & Brent sit the best part of $0.40 lower....>

OIL: WTI & Brent sit the best part of $0.40 lower vs. their respective

settlement levels after the benchmarks managed to record impressive gains

(adding over $1.50) on Thursday, adding to Wednesday's strong recovery.

- A RTRS sources piece helped bolster bulls' confidence Thursday, noting that

OPEC+ has "two main scenarios: either meet in December and extend the current

cuts until June; or defer the decision until early next year, meet before March

to see how the market looks and extend the cuts until the middle of the year. It

is more likely that we will extend the agreement in December to send a positive

message to the market. The Saudis don't want oil prices to fall, they want to

put a floor under the prices because of the (Aramco) IPO."

- Trade war dynamics also remain integral for crude prices.

- Weekly Baker Hughes rig count data is due later today.