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UPDATE 5-Oil hits 11-year low, Saudi-Iran row cuts chances of output restraint

* Saudi-Iran split dashes chance of OPEC deal to curb oil glut

Petrobras ends rig contract with Ensco over corruption charges

Jan 6 (Reuters) - Rig contractor Ensco Plc said Petrobras has declared void a contract for a drillship leased to the Brazilian oil producer.

Four oil tanks now on fire at Libyan ports after clashes

BENGHAZI, Libya, Jan 6 (Reuters) - Fires caused by clashes between Islamic State militants and guards near Libya's biggest oil ports have spread to four oil storage tanks that were still burning on Wednesday, a guards spokesman said.

UPDATE 1-Islamic State threatens to destroy Saudi prisons after executions

RIYADH, Jan 6 (Reuters) - Islamic State threatened to destroy Saudi Arabian prisons holding jihadists after Riyadh's execution of 47 people including 43 convicted al Qaeda militants.

UPDATE 1-Volkswagen brand chief confident of finding solution to U.S. diesel issues

* Says optimistic agreement with US regulators will be reached soon

COLUMN-Saudi execution exposes dangerous political and religious divisions: Kemp

LONDON, Jan 6 (Reuters) - Saudi Arabia's execution of Shi'ite cleric Sheikh Nimr al-Nimr has exposed the dangerous political, religious and socio-economic fault lines which run through the kingdom and the Gulf.

Sinopec strikes high-yielding oil at China's Beibu Bay test well

BEIJING, Jan 6 (Reuters) - Sinopec Corp said it struck high-yielding oil and gas in a test well offshore Beibu Bay near China's southwestern coast, marking a rare offshore oil and gas find by the state firm that is largely focused onshore.

All eyes on 2017. Yes, 2017, if you’re in the metals world

Guess what, it’s official: 2015 was a terrible year for commodities.

Crude oil prices started 2015 relatively low, ended the year lower

(Wed, 06 Jan 2016) Crude oil prices ended 2015 below $40 per barrel (b), the lowest level since early 2009. Spot prices for the international crude oil benchmark Brent averaged $52/b in 2015, 53% below the level in 2014 and 49% below the average price over 2010-14. Spot prices for West Texas Intermediate (WTI) crude oil were also down 53% in 2015 compared with 2014, averaging $49/b for the year.

UPDATE 1-Four armed men set Saudi Aramco bus on fire in oil province

DUBAI, Jan 5 (Reuters) - Four armed men set a bus on fire on Tuesday carrying workers in Saudi Arabia's oil-producing Eastern Province, state news agency SPA reported.

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