WTI & Brent were $0.50 or so worse off in.......>

OIL: WTI & Brent were $0.50 or so worse off in Asia, with WTI trading at $66.75,

while Brent last stood at $69.60.

- This came after the latest API crude inventory estimate reportedly provided a

much larger than expected headline crude build, although Gasoline & Distillate

stocks reportedly experienced large drawdowns.

- Tuesday also brought reports which suggested that OPEC & Non-OPEC producers

were close to agreeing on a longer term production framework, although the story

did little to support prices.

- Traders await Wednesday's official DoE inventory report.

- WTI's rejections ahead of 2018 highs are less than ideal for bulls when

combined with daily studies at O/B levels and looking to correct as well as the

Bollinger top ($66.20) limiting follow through. Bears look for a close below

$63.99 to shift initial focus back to $61.45-62.71 where 21 ($62.60) & 55

($62.71) DMAs are situated. Bulls continue to look for a close above $66.66 to

target $69.54-73.25 last seen in early 2014.