By Henning Gloystein
SINGAPORE, Nov 16 (Reuters) - Crude oil futures opened
slightly stronger in early Asian trading on Monday following the
deadly attacks on Paris, but prices remain near August lows and
oil and other commodities are expected to continue under broad
pressure in nervous trading.
Front-month U.S. crude futures CLc1 were trading at $40.88
a barrel at 2313 GMT, up 14 cents from their last close.
Internationally traded Brent LCOc1 was at $44.58 a barrel,
up 11 cents.
Both crude benchmarks saw high levels of activity in early
trading as markets looked nervously for direction following the
deadly attacks in Paris on Friday. urn:newsml:reuters.com:*:nL8N13A0O7
"Copper and crude oil prices are likely to remain under
pressure short-term," ANZ bank said in a morning note on Monday.
The bank said that oil prices would also be under pressure
from fundamentals.
"Surprisingly, U.S. drillers are putting rigs back to work
in the oil fields after more than two months. Baker Hughes (N:BHI)
reported the U.S. oil rig count gained by 2 to 574," ANZ bank
said on Monday, but added that "we believe the low oil price
environment will lead to a decline in drilling activity in the
coming weeks."
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CHART-Oil prices: http://reut.rs/1RSgjbu
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(Editing by Ed Davies)