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Oil slide despite geopolitical jitters LONDON: World oil prices sank on Monday as traders appeared to shrug off geopolitical worries over key crude producing regions, dealers said.Brent North Sea crude for delivery in September dropped 94 cents to stand at $107.45 per barrel nearing midday in London.US benchmark West Texas Intermediate for September fell 61 cents to $101.48 a barrel."The oil market still appears unaffected by the numerous sources of geopolitical crisis," said Commerzbank analysts in a note to clients."The complacent attitude of market participants is amazing in view of the considerable risks to supply and could result in a significant price increase the moment they choose to reassess the situation."Before the weekend, however, Brent oil prices had however surged on Friday on geopolitical concerns.Brent tends to react more dramatically to international risks than WTI, which responds mostly to the forces of supply and demand in the United States.Analysts warn that the eurozone economy could ...


Brent slips near $108 as Mideast tension cools on Gaza lull SINGAPORE: Brent crude slipped near $108 a barrel on Monday as fighting between Israel and Hamas Islamist militants subsided in Gaza, but some analysts said falls may be limited.Geopolitical tensions in the Middle East eased for now after Hamas said it backed a 24-hour humanitarian truce. U.S. President Barack Obama had called for a ceasefire but there was no sign of any comprehensive deal to end fighting with Israel.September Brent crude was down 35 cents ...

Oil falls below $108 on excess supply, weak demand LONDON: Brent crude oil slipped below $108 a barrel on Monday as weak demand in Europe and Asia and ample supply in the Atlantic basin outweighed political tensions in Ukraine and the Middle East.North Sea and West African physical crude markets are over supplied, traders and brokers say, with sellers discounting heavily in an effort to attract buyers such as oil refiners.September Brent was down 66 cents at $107.73 a barrel by 0840 GMT. Earlier ...

UK gas prices fall on reduced exports and robust LNG supply LONDON: Wholesale natural gas prices in Britain fell on Monday morning due to oversupply in the market as exports to the continent were reduced and liquefied natural gas (LNG) supply was expected to increase.Gas prices for delivery on Tuesday declined to 38.75 pence ($0.66) per therm at 0834 GMT, 1.65 pence lower than the previous close, while gas for immediate delivery was down 2.55 pence at 38.35 pence per therm.Prices for the winter 2014-2015 season ...

Hungary says gas flows from Ukraine normal on Monday BUDAPEST: Russian natural gas flows to Hungary via Ukraine were running normally on Monday morning, Hungarian pipeline operator FGSZ Zrt said.Russia cut off gas to Ukraine on June 16 in a dispute over unpaid bills but continues to supply gas that Ukraine sends on to Russia's clients in Europe.Copyright Reuters, 2014

Oil prices drift lower in Asia TOKYO: Oil prices dipped in Asian trade Monday ahead of the release of US economic growth and jobs data later in the week, while investors track events in Ukraine and the crude-rich Middle East.The US benchmark futures contract, West Texas Intermediate (WTI) for September, dipped 51 cents to $101.58 a barrel.Brent North Sea crude for September delivery was down 43 cents at $107.96 a barrel.Investors are also looking to a US Federal Reserve policy meeting ...

Brent slips below $108 as Mideast tension cools on Gaza lull SINGAPORE: Brent crude slipped below $108 a barrel on Monday as fighting between Israel and Hamas militants subsided in Gaza, but some analysts said falls may be limited. Geopolitical tensions in the Middle East eased for now after Hamas said it backed a 24-hour humanitarian truce. US President Barack Obama had called for a ceasefire but there was no sign of any comprehensive deal to end fighting with Israel. September Brent crude fell 50 cents ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln