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OIL
OIL: WTI & Brent traded lower early on Tuesday as trade war worry weighed on
sentiment.
- Monday had was dominated by comments from Russian Energy Minister Novak, who
noted that the upcoming OPEC+ meeting in Algiers will see the participating
nations discuss multiple scenarios (including the potential of lifting OPEC+
production by 1mn bpd). The meeting was exp. to be a simple run of the mill
gathering, with most initially exp. a decision re: production at the December
summit.
- A heavy session for U.S. stocks also crimped demand for crude on Monday.
- Traders await the weekly API inventory release, due after hours today.
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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