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Oil steady ahead of key monthly reports
ICE Brent started the week on a soft note after a push higher towards the end of last week, which supported the ICE Brent at around US$82/bbl on Friday on optimistic comments from Saudi Arabia. The market awaits monthly oil market data from OPEC (later today) and the IEA (on Tuesday), which will provide more visibility of the physical market conditions and crude oil market balance. Media reports suggest that Russia could lift remaining restrictions on gasoline and diesel exports in the coming week as refineries restart after maintenance and the domestic fuel supply has improved. Earlier, Russia imposed restrictions ... (full story)