[MARKET ANALYSIS] WTI and Brent nears USD 65 and 70/bbl respectively as Trump mulls sending another carrier near Iran

Crude benchmarks have steadily moved higher as the European session gets underway, with traders digesting a report by Axios quoting President Trump saying that he might send a second carrier to strike Iran if talks fail, pushing aside the larger-than-expected US private inventory build. WTI and Brent rebounded from a trough of USD 63.65/bbl and USD 68.49/bbl respectively in the later hours of Tuesday's trading session, and oscillated in a tight c. USD 0.50/bbl range during the APAC session, with WTI nearing USD 65/bbl to the upside. On US-Iran talks, Iran's Foreign Minister Araqchi recently said that a date for the next round of US negotiations has not been set and that they are ready for dialogue on the level of enrichment. Later today, the OPEC MOMR is set to be released, although a set time has not been determined yet. The EIA released their respective monthly oil report, leaving the world oil demand unchanged from the prior report.