US Energy Sec. Perry: We are confident the oil markets are well supplied

The US Energy Secretary Rick Perry was on the wires last minutes, via Reuters, saying that “we are confident the oil markets are well supplied”.

“We are adopting a wait and see approach to using the strategic petroleum reserve (SPR),” Perry added.

Markets stay focused on the Saudi Oil Minister’s press conference at 1715 GMT, which may offer fresh cues on Saudi’s supply-side scenario and in turn have a major bearing on oil trades. WTI keeps losses around $ 62 level while Brent remains near 68.70 region.