WTI re-attempts $40 mark amid mixed news from Saudi Arabia

Amid mixed news coming in from Saudi Arabia, oil bulls appear to have fought back control, as WTI trims losses to challenge the $40 mark in late Asian trading.

The Kingdom raised pricing slightly for its flagship crude oil shipped to Asia, the first sign of strength in the physical market after a month and a half of weakness and crashing refining margins.

more to come ...