• Oil prices continue to soften on ongoing concerns surrounding the Euro-zone, Spanish bond yields rising above 7 per cent and softening US and Chinese economic activity
• Oil price forecasts revised down, reflecting ongoing market concerns surrounding the Euro-zone, weaker growth forecasts for the US and China and easing supply-side concerns
• Global crude oil market loosening as demand weakens and supply disruptions dissipate but market fundamentals still point to prices well above current levels

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