Oil slips to the lows of the day into settlement. Eyes on inventories.

<p>Eyes are on oil inventories today as chatter spreads about falling global stockpiles.</p><p>October WTI crude oil settled down 49-cents to $79.63 after trading as high as $80.37. Risk trades are broadly falling as Nasdaq gains fade ahead of Nvidia earnings tomorrow.</p><p>As for oil, Biden <a href="https://www.axios.com/2023/08/21/biden-mbs-g20-meeting-saudi-israel-megadeal" target="_blank" rel="nofollow">may meet </a>Saudi Arabian leader Mohammed Bin-Salman at the upcoming G20 summit in September. That's worth watching because there may be a deal to be made where the Saudis pump more in exchange for geopolitical favors. </p><p>For WTI crude oil inventories in the US, the consensus right now is for a 2.85m barrel draw but I've been hearing chatter closer to -6 million.</p>

This article was written by Adam Button at www.forexlive.com.