CRUDE WRAP: WTI (Q6) SETTLES USD 1.25 LOWER AT 69.50/BBL; BRENT (U6) SETTLES USD 0.96 LOWER AT 72.95/BBL

The crude complex saw slight losses, as benchmarks largely treaded water as participants await the Doha meeting. In regards to that, desks continue to digest different reporting around what, if anything, to expect from that, in terms of US-Iran discussions. While headline driven newsflow was sparse on Tuesday, the highlight was arguably a NYT citing sources report that Iran and US-allied Oman are moving forward with plans to collect payment for ships transiting the Strait of Hormuz, despite public American objections. Nonetheless, oil ground lower throughout the duration of the session to settle at troughs. Highlighting the narrow parameters of the energy space, especially by recent standards, WTI traded between USD 69.45-71.60/bbl and Brent USD 72.90-74.90/bbl. After-hours participants await the weekly private inventory report.