- Oil is trading lower ahead of EIA inventory report
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- WTI prices are continuing to move lower, with prompt prices now near $73/Bbl
- The API is forecasting a 2.68 MMBbl inventory build ahead of the official EIA data release later this morning
- Canadian crude prices fell to the lowest level since August after Trump renewed tariff threats
- Russia sending sanctioned oil to India (BBG)
- Despite US sanctions, Russia is shipping oil to India on vessels included on the US sanctions list, testing Moscow’s ability to continue exporting crude
- India has said it will only accept cargoes loaded before January 10, provided they arrive before February 27
- Russian oil exports have remained steady, with daily crude flows rising 11% last week to 3.07 MMBbl/d
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