U.S. shale drillers are also proving more resilient than expected to cheap crude, OPEC said. [OPEC/M]"It seems the situation has deteriorated strongly in the eyes of OPEC, as well as the IEA," said Commerzbank head of commodities strategy Eugen Weinberg. "I wouldn't be surprised to see this price weakness continue for a while, because that was not on the cards, in our opinion. U.S. equity markets were down nearly 2 percent, extending the bearish sentiment across risky markets. [FRX/] [.N]Brent crude settled down US$1.22 or 2.5 percent, at $47.10 a barrel.

Source: The Star September 13, 2016 23:14 UTC