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Oil prices fall as Libya prepares to resume exports LONDON: Oil prices fell on Tuesday as Libya readied to resume its crude exports after months of waiting, although a flare up in Russia-Ukraine tensions kept a lid on losses, traders said. New York's main contract, West Texas Intermediate for May delivery, slipped 33 cents to stand at $103.72 a barrel compared with Monday's closing level.Brent North Sea crude for May was down 22 cents at $108.85 a barrel in late London deals.Crude oil prices had marched higher on Monday as traders kept a wary eye on escalating tensions between Russia and Ukraine that have raised fears of a disruption to energy supplies to Western Europe. "The Ukraine crisis is likely to remain in a deadlock and should continue to render good support to benchmark crude prices in the near term," Tan Chee Tat, an analyst at brokers Phillip Futures, told AFP. But prices were lower compared with Monday's closing ...

Total pushes ahead with $16bn Angolan Kaombo oil project PARIS: French oil major Total said on Monday it had decided to invest in Angola's Kaombo oil project after lowering its cost by $4 billion to $16 billion. The ultra-deep offshore field will have a production capacity of 230,000 barrels per day, for a start-up date in 2017, Total said in a statement. Copyright Reuters, 2014

US oil to rise into $104.88-$105.22 range SINGAPORE: US oil is expected to rise into a range of $104.88-$105.22 per barrel, as it has broken above a resistance of $103.73.The resistance is at the 100 percent Fibonacci projection level of an upward wave C, which started at the April 2 low of $98.86. The next resistance will be at $104.88, the 123.6 percent projection level, a break above which will lead to a further gain to $105.22, the March 3 high, or ...

Brent rises, hovers near $108 as Ukraine crisis worsens SINGAPORE: Brent futures rose and hovered near $108 a barrel on Monday amid worsening geopolitical tensions over Ukraine that has raised the risk of a military confrontation between Ukraine and Russia. Ukraine has given pro-Russian separatists a Monday morning deadline to disarm or face a "full-scale anti-terrorist operation" by its armed forces, while the United States and the European Union mull tougher sanctions against Russia if separatist action continues. Brent crude rose 60 cents to ...

Oil prices up as Russia-Ukraine tensions escalate SINGAPORE: Oil prices edged higher in Asian trade Monday on escalating Russia-Ukraine tensions that had Moscow and the West locking horns at emergency UN talks, analysts said. US benchmark West Texas Intermediate (WTI) for May delivery gained 51 cents to $104.25 per barrel in mid-morning Asian trade while Brent North Sea crude for May rose 52 cents to $107.85. Analysts said the oil market was spooked after Ukraine's acting president Oleksandr Turchynov on Sunday accused ...

Ukraine suspends gas payments to Russia until talks conclude KIEV: Ukraine's state-run energy company Naftogaz has suspended gas payments to Russia until the conclusion of price talks, chief executive Andriy Kobolev was quoted as saying on Saturday.Russia, which last month angered Western powers by annexing Ukraine's Crimea peninsula, has raised the price it charges Kiev for gas and said it owes Moscow $2.2 billion in unpaid bills. It also says Kiev had failed to pay its bill on time.Russian gas giant Gazprom earlier this ...

Billionaire Russian gas trader says US sanctions a badge of honour MOSCOW: Gennady Timchenko, the billionaire Russian gas trader hit with U.S. sanctions over his alleged ties with the Kremlin following Russia's annexation of Crimea, said being singled out by Washington was a badge of honour.But Timchenko, who sold his stake in oil trading firm Gunvor last month, acknowledged that the sanctions were slightly inconveniencing his business interests because some European banks were reluctant to deal with him."The fact that I was included in the list ...


Index Closing Chg%
Arrow DJIA 16,262.56 0.55
Arrow Nasdaq 4,034.16 0.29
Arrow S&P 1,842.98 0.68
Arrow FTSE 6,541.61 0.64
Arrow DAX 9,173.71 1.77
Arrow CAC-40 4,345.35 0.83
Arrow Nikkei 13,996.81 0.62
Arrow H.Seng 22,671.26 1.60
Arrow Sensex 22,484.93 0.64

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln