Energy Update

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Saudi Arabia sometimes seems to take a blase approach to oil prices, but its falling foreign reserves may spur action. Geoffrey Craig takes stock of the situation.

(Mon, 13 Jul 2015) The front-month futures price for crude oil benchmark West Texas Intermediate declined 7.7% on Monday, July 6, the largest single-day decline in percentage terms since February 4. Uncertainty over Greece's fiscal position, volatility in the Chinese stock market, and uncertain prospects for a nuclear deal with Iran were cited as immediate factors affecting expectations for future crude oil supply and demand.

* GRAPHIC on sage grouse habitat and species listings trend: http://reut.rs/1Tq4kmM

* Many cargoes rejected at Chinese ports after quality checks (Recasts to focus on year on year numbers, adds detail)

* U.S. crude has spent only 7 pct of time under $50 in past decade

SINGAPORE, July 13 (Reuters) - Oil prices opened up lower on Monday as Iran and six world powers were close to nailing down a nuclear deal, while Greece and its creditors failed to find a bailout agreement over the weekend.

* Shares in Thai renewable energy companies outperform market

PORT HARCOURT, Nigeria, July 12 (Reuters) - At least five people were shot and killed on Saturday evening in a small community a few kilometres (miles) from Nigeria's largest refinery in the oil hub Port Harcourt in Rivers state, a spokesman police and local leaders said on Sunday.

NIAMEY, July 12 (Reuters) - Suspected Boko Haram militants launched an attack on the prison in the southern Niger town of Diffa late on Saturday, military sources said, in an apparent bid to free fellow members of the Nigerian Islamist group held there.

Vienna, July 12 (Reuters) - Major issues remain unresolved in the Iran nuclear talks, a senior U.S.

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