WTI & Brent trade ~$0.40 higher than............>

OIL: WTI & Brent trade ~$0.40 higher than settlement at writing as the major

Asia-Pacific equity markets operate on the front foot.

- Crude followed the ebb & flow of broader risk sentiment in early Monday trade,

before decoupling from equities in the NY afternoon as the potential for a

meeting between U.S. & Iranian diplomats emerged as the G7 summit drew to a

close. Iranian President Rouhani said "if I knew that going to a meeting and

visiting a person would help my country's development and resolve the problems

of the people, I would not miss it." U.S. President Trump seemed a little more

guarded, suggesting that a meeting could take place under the right

circumstances, and stressed that he wouldn't ease sanctions ahead of any

possible meeting with the Iranians.

- All in all, we shouldn't view the recent round of rhetoric as an "all clear,"

after all, Rouhani rejected French President Macron's proposal to include the

Iranian missile program in any negotiations.

- The weekly API inventory estimates provide the highlight for participants

today.