WTI & Brent trade a few cents lower than........>

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.