CRUDE WRAP: WTI (V6) SETTLES USD 0.29 HIGHER AT USD 91.30/BBL; BRENT (X6) SETTLES USD 0.11 LOWER AT USD 95.52/BBL

WTI (V6) SETTLED USD 0.29 HIGHER AT USD 91.30/BBL; BRENT (X6) SETTLED USD 0.11 LOWER AT USD 95.52/BBL The crude complex settled mixed, seeing two-way action through the session. Overnight and through the European morning, WTI and Brent ground lower to hit troughs of USD 89.57/bbl and 94.03/bbl, respectively, after Russian President Putin remarked that Russia and Ukraine should agree first and that there is an opportunity to reach a peace agreement. Adding to geopolitical risk, Houthis have launched a large-scale offensive on all fronts along the western coast, according to Sky News Arabia, citing Yemeni military sources. Thereafter, benchmarks pared all losses to move to highs, but with no headline catalyst behind the moves, as Middle East headlines, for a change, were light. The main macro driver on Thursday was dovish comments from the influential Fed Governor Waller, who remarked he supports holding the policy rate steady at the September FOMC meeting if August inflation data shows continued progress. A muted reaction was seen in response to an NYP report that Oman has quietly rejected Iran’s request to jointly charge service fees on commercial ships in the Strait of Hormuz. Elsewhere, Russian Deputy PM Novak said OPEC's role in the market remains important and will continue to exert significant influence on the oil market because of its high output. As a reminder, sources on Wednesday reported that the OPEC+ meeting on Sunday will not make any oil output policy decisions and will focus on discussing market conditions.