CRUDE WRAP: WTI (V6) SETTLES USD 0.32 HIGHER AT 84.06/BBL; BRENT (V6) SETTLES USD 0.15 HIGHER AT 91.02/BBL

The crude complex saw slight gains on Tuesday, and traded within tight parameters in light holiday trade. Middle East headlines were the highlights, and the main market came after the usual punchy Trump rhetoric. The US President said there are no talks or conversations going on, or scheduled, with Iran and the naval blockade remains in full force and effect. As such, immediate upside was seen in crude, but it swiftly pared. Further from the Iranian side, the Foreign Minister remarked that Tehran rejected ceasefire proposals; reiterating that the war must end, not pause, albeit seeing little reaction. Elsewhere, the UKMTO said it received a report of an incident 40nm Southeast of Al Mocha, Yemen, while warning sirens were heard in Dubai, although the UAE later reported the situation is safe. Ahead, the weekly private inventory metrics after-hours will be watched as well as any further geopol updates. WTI (V6) traded between USD 83.77-85.07/bbl, while Brent (V6) traded between USD 90.61-92.00/bbl.