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OIL: WTI trades $0.20 lower at writing, with Brent $0.40 or so below settlement
- This comes after oil continued to falter on Monday as 8 countries received
exemptions from U.S. sanctions re: Iranian crude purchases & U.S. President
Trump pointed to a gradual tightening of restrictions on those that had received
the waivers, in an attempt to limit any spikes higher in oil prices.
- Iranian leader Rouhani had already stated that the country will break the
sanctions and sell oil.
- Focus Tuesday turns to the latest API oil inventory report, with analysts
looking for a headline crude build of ~1.6mn bbls in this week's DoE inventory
data due, Wednesday. Participants also await the latest OPEC JMMC meeting, later