Oil slumped in muted post-Christmas trading as investors assessed a fresh development in long-stalled Ukraine peace talks which could lead to a deal that allows more Russian oil into global markets grappling with oversupply.
A pump jack in Midland, Texas. Photographer: Anthony Prieto/Bloomberg
Recent attacks on the the key export terminal for Kazakh crude have wiped out more than a 10th of the country’s daily oil output.
Workers perform maintenance on an oil pumping unit, also known as a "nodding donkey", at an oilfield operated by Embamunaigas, a unit of KazMunaiGas Exploration Production, in Akkystau village, near Atyrau, Kazakhstan, on Saturday, July 4, 2015. The majority Muslim country is central Asia's biggest oil producer. Photographer: Bloomberg/Bloomberg
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