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WTI & Brent trade a few cents lower on the......>

OIL
OIL: WTI & Brent trade a few cents lower on the day. This comes after both
metrics settled higher on Monday, as the OPEC+ nations ultimately came to a deal
re: the 9-month extension of the current trade pact. The group of oil producers
also signed off on a "voluntary" charter, after some dissent from Iran.
- Saudi Arabia noted that it will once again produce less crude than it is
permitted to under the deal.
- It is also worth noting that OPEC now benchmarks inventories to the 2010-2014
range, as opposed to the 5-Year average.
- The weekly API inventory estimates provide the key points of interest on
Tuesday.
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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