28 Dec '15, 12am

Oil prices weaken post-Christmas, U.S. crude defends premium over Brent: SINGAPORE (Reuters) - Oil prices fell...

SINGAPORE Oil prices fell on Monday after the long Christmas weekend, with U.S. crudes defending a newly gained premium over internationally traded Brent contracts. Front-month U.S. West Texas Intermediate (WTI) futures were trading at $37.91 per tonne at 0015 GMT, down 19 cents from their last settlement. Brent was down 18 cents at $17.71 a barrel, meaning that U.S. crude defended a premium it gained over the globally traded benchmark last week. "Markets are generally weak, so the trend remains for lower prices, but do watch out for sharp moves in the low liquidity days between Christmas and New Year," one oil trader said. The U.S. market tightened in December following reduced drilling activity, a dip away from record stockpiles and the prospect of crude exports following a 40-year export ban. At the same time, international markets remain over supplied as producers like...

Full article: http://www.reuters.com/article/us-global-oil-idUSKBN0UB01...

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