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WTI is slightly higher in Asia on Monday last...>

OIL
OIL: WTI is slightly higher in Asia on Monday last up $0.22 at $66.36, while
Brent has slipped slightly on some touted profit taking above the $70/bbl
handle, Brent last down $0.09  at $70.43.
- WTI built on gains made on Friday, moving back towards the highest level in
3-years as dollar denominated assets get a boost from the continued weakness of
the USD. 
- Over the weekend JP Morgan raised their 2018 WTI forecast by $10.70 to $65.63,
and Brent forecast by $10/bbl to $70/bbl citing OPEC's efforts to rebalance the
market.
- Also over the weekend Iranian Oil Minister Zanganeh said that oil at $60/bbl
was a good price, adducing risks of a flood in supply should prices keep
climbing as higher breakeven producers are tempted back to the market.
- MNI technical analysis sees WTI support at $65.95 - Hourly support Jan 26,
resistance is seen at $66.66 - 2018 High Jan 25.

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