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Brent crude oil ended up almost 1 percent on Tuesday, helped by data showing stronger-than-expected China demand and some technical price recovery after weeks of almost uninterrupted selling. Analysts and traders cautioned, however, that global economic data, especially out of Europe, were still weak amid strong fears of oversupply in crude markets.

EU-brokered negotiations to resolve the gas dispute between Russia and Ukraine failed on Tuesday, despite "significant progress", and a new meeting will take place next week, the European Commission said. "We have made significant progress," European Energy Commissioner Guenther Oettinger said after meeting with the Ukrainian and Russian energy ministers, Yuri Prodan and Alexander Novak. "We hope for an agreement" at a new round of talks next Wednesday, he added.
Brent crude fell on Monday, dropping below $86 a barrel as worries about booming supply and sluggish demand pushed the global oil benchmark back toward last week's four-year low. US crude hovered below $83 a barrel. Brent tumbled more than a dollar in early US trade, but bounced off session lows as global equities markets gained.
India moved a step closer to selling a stake in state-run oil company ONGC on Monday, keeping up Prime Minister Narendra Modi's momentum on economic reform after bringing prices of diesel and natural gas closer in line with the market. A barn-storming performance in two state elections last week capped several days of action on the economic front and has given Modi more room to cut through a thicket of regulations and state controls he says holds back Asia's third-largest economy.
US natural gas futures settled a few cents lower on Friday after dropping to their lowest for the year in earlier trading on forecasts for weak heating demand over the next two weeks and continued big storage builds. After falling 3 percent over the prior three days, front-month gas futures on the New York Mercantile Exchange closed down 3 cents, or 0.8 percent, at $3.766 per million British thermal units. During the session, the contract touched its lowest price of the year, $3.715.
The Asian naphtha crack climbed by about 2 percent to a three-session high of $68.85 a tonne on Monday, thanks to more demand although supplies were still healthy. South Korea's Lotte Chemical returned to the market on Monday to buy a first-half December open-spec naphtha cargo at about minus $13 a tonne to Japan quotes on a cost-and-freight (C&F) basis, traders said.
Areva chief executive Luc Oursel announced Monday he had stepped down for health reasons, more than three years after he was appointed to head up the French nuclear giant. "Under these very difficult personal circumstances, and despite my very strong commitment to Areva, I have had no choice but to hand over my responsibilities at the head of the company and have chosen to take a leave of absence in order to pursue treatment," Oursel said in a statement. "I must now fight a personal battle against the illness," he added, without detailing what health problems he suffers from.

 



 
Index Closing Chg%
Arrow DJIA 16,614.81 1.31
Arrow Nasdaq 4,419.48 2.40
Arrow S&P 1,941.28 1.96
Arrow FTSE 6,372.33 1.68
Arrow DAX 8,886.96 1.94
Arrow CAC-40 4,081.24 2.25
Arrow Nikkei 14,804.28 2.03
Arrow H.Seng 23,088.58 0.08
Arrow Sensex 26,575.65 0.55





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln