- Oil prices retreated after a U.S. Industry report pointed to a build in crude stockpiles, helping keep Brent crude below $80/Bbl
- The API reported a 4.13 MMBbl weekly gain in U.S. crude stocks yesterday afternoon
- The increase would be the first in eight weeks if confirmed by government data later today
- Pricy natural gas is poised to boost oil purchases by Asian power generators by more than 40%, according to Rystad Energy (Bloomberg)
- Electricity producers might switch enough of their generators to crude to consume 400 MBbl/d, the research firm said in a report on Tuesday
- WTI options volumes were the highest since mid-August on Tuesday (Bloomberg)
- The most actively traded Brent contract was a $100 call, while $150 calls also traded on both benchmarks
- Bullish speculation on crude oil comes as both WTI and Brent trade near multi-year highs