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WTI Crude saw significant downside in the.......>

OIL
OIL: WTI Crude saw significant downside in the overnight session dropping $1.64
influenced by Large Cushing Build Reported by Genscape, no fresh headlines
regarding Turkey cutting off Kurdish production, chatter making the rounds about
Producer Hedging over %50 and hawkish comments from the Fed - yesterday Fed
George supported Fed Chair Yellen's and Rosengren's hints further towards a Dec
rate hike and lastly Pres. Trump announced tax cuts in the reform which was well
received in the markets. Throughout Asia (CLA) Crude Oil has remained a lot
calmer, down $0.05 at $51.51 and Brent calmer too, up $0.17 at $57.58. 
- Oil rose to highest levels since May in the Wednesday overnight session when
inventories reported supply down 1.85mln barrels, lag from Hurricane Harvey and
a surprise to the market so we look to the Baker Hughes Rig Count tomorrow where
hopefully there's some upside there.
- MNI technical analysis sees support at $56.56 - Low Sept 28 and resistance at
$57.33 - Hourly resistance Sept 29.

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