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WTI briefly topped Friday's highs in early......>

OIL
OIL: WTI briefly topped Friday's highs in early dealing this week, before edging
back from best levels alongside broader risk sentiment, leaving WTI & Brent
unchanged last.
- The weekend saw SHANA report that "Iran began selling crude oil to private
companies for export on Sunday, part of a strategy to counter U.S. sanctions
which come into effect on Nov. 4 and aim to stop the country's key crude
exports." This comes after the country stated that it doesn't foresee U.S.
sanctions limiting exports at sub-1mn b/d.
- Elsewhere, the German government authorised the release of strategic fuel
reserves on Friday, after a dry spell in the Rhine river heavily effected oil
shipments in recent weeks.
- It is also worth noting that active oil rigs in the U.S. ticked up for a third
consecutive week, according to Baker Hughes data released Friday.
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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