IPE Brent inches lower in line with overall weaker complex

Singapore (Platts)--16Sep2005

The new front-month November Brent futures contract on London's
International Petroleum Exchange inched lower in early electronic trade during
Asian afternoon Friday, falling in line with the overall weaker energy
complex, stretching across from US' New York Mercantile Exchange.

     The new benchmark IPE Brent futures traded thinly, last done at
$63.50/bbl at 0356 GMT, down 16cts from Thursday's settle. The contract was 
last bid/offered at $63.35-63.42/bbl at 0630 GMT. The October contract settled
21cts weaker at $63.16/bbl on Thursday.    

     October West Texas Intermediate crude futures on NYMEX were also weaker
on Access, last changing hands at $64.50/mt at 0631 GMT, down 25cts from
Thursday's settle in New York.

     Unleaded gasoline and heating oil prices dragged the complex downwards
Thursday in the US, after establishing shorts in the early part of the day.

     Meanwhile, October IPE gasoil futures traded at $590.50/mt at 0630 GMT,
down $4/mt from Thursday's $594.50/mt settle, sliding in line with the rest of
the complex.

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