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By Dmitry Zhdannikov, Ron Bousso and Libby George LONDON (Reuters) - While oil futures prices rebound with vigor as analysts cite strong demand, the physical crude market tells a much more cautionary tale. Tens of millions of barrels are struggling to find buyers in Europe with traders of West African, Azeri and North Sea crude blaming poor demand. The deep disconnect between the oil futures and physical markets looks similar to the events of June 2014 when the physical market weakness became a precursor for a futures price crash. "In the short-term, futures prices do not necessarily reflect accurately the physical market." Benchmark Brent oil futures prices more than halved between June 2014 and January 2015 after OPEC refused to cut output and instead chose to undercut more expensive producers, including a booming U.S. shale oil sector.
Nepalese soldiers and villagers dug through snow mounds in a remote hamlet on Wednesday in search of scores of bodies of villagers and trekkers believed to be buried in an avalanche set off by last month's devastating earthquake, officials said. As rescuers hunted for more than 180 bodies in the village of Langtang, 60 km (37 miles) north of the capital Kathmandu, seven bodies including of that of a German trekker were recovered at Manaslu, another climbing site. On Wednesday, bad weather prevented the use of helicopters in support of rescue efforts in Langtang, which is on a Himalayan trekking route popular with Westerners.