SHARES STRONGLY UP/DOWN this week 26/12/05 (Master RSI)

Oil prices fall slightly on expected US warm weather

LONDON (AFX) - World oil prices dipped slightly on expectations of warmer
weather in the US, the world's biggest consumer of energy, analysts said.
New York's main contract, light sweet crude for delivery in February, eased
eight cents to 58.08 usd per barrel in electronic trading.
In London, the price of Brent North Sea crude for February delivery dipped
two cents to 56.27 usd per barrel.
"Crude futures remained under pressure from the mild US weather lowering
demand for heating oil," analysts at the Sucden brokerage firm said.
Prices were weighed down also by crude output returning to normal in Nigeria
after a pipeline attack in Africa's biggest oil producer last week, they added.
Energy giant Royal Dutch Shell had said that unknown assailants attacked its
pipeline near the main oil city Port Harcourt, resulting in a major spill and
fire that slashed production by about seven pct of Nigeria's total crude export.
Temperatures in the US northeast region, the world's largest consumer of
heating fuel, were meanwhile expected to rise further above normal levels by the
end of the week, according to weather forecaster Meteorlogix.
Elsewhere, the US National Weather Service has predicted the mild
temperatures to remain through to March.
Amid such weather conditions, some analysts said there appeared to be
sufficient energy supplies to meet demand during the northern hemisphere winter.
US reserves of crude have increased by 12.4 pct over the last year, while
stockpiles of heating fuel are up 11.1 pct, according to the US Department of
Energy...........