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JGB TECHS

(M1) Bullish Focus

AUSSIE 10-YEAR TECHS

(M1) New Multi-Month Highs

USDCAD TECHS

Clearing Major Support

AUDUSD TECHS

Sizeable Resistance Building

EURJPY TECHS

Needle Still Points North

OIL
OIL: WTI & Brent trade a few cents lower than settlement last, although the
benchmarks are back from session lows. Reports suggest that the latest API
inventory release pointed to a headline build of 2.3mn bbls vs. exp. for a draw
in crude stocks, while distillate stocks unexpectedly fell and gasoline stocks
rose slightly more than exp. Reports also indicated that the release pointed to
a build in inventory at the Cushing hub.
- Tuesday saw U.S. President Trump continue his criticism of OPEC/high oil
prices, although his comments generated little sustained reaction.
- U.S.-Iran verbal sparring continues as long time Iran hawk John Bolton warned
Tehran that there would be "hell to pay" if it continued to "cross" the U.S. &
its allies. Elsewhere U.S. President Donald Trump and his Iranian counterpart
Rouhani clashed at the UN Assembly on Tuesday.
- Washington's special envoy for Iran noted that "the U.S. will make sure the
oil market is well supplied before it re-imposes oil sanctions against Iran."
- Reports late Tuesday noted that India is not planning to buy any crude oil
from Iran in November.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com