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WTI trades $0.10 below settlement levels at.....>

OIL
OIL: WTI trades $0.10 below settlement levels at writing, with Brent $0.20 below
settlement This comes after crude gave up some of last week's gains on Monday.
- Monday saw WSJ sources suggest that "Riyadh is willing to overlook Russia's
shortcomings" re: pledged oil production cuts "because it needs support on the
international stage."
- Elsewhere, some perceived the weekend comments from the Russian Finance
Minister re: the OPEC+ agreement trade-off between higher oil prices and ceding
market share to the U.S. as a veiled threat to pull out of the pact later this
year.
- Focus Tuesday moves to the weekly API oil inventory estimates.
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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