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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 this week for a snapshot on the state of the world's number one economy.The US is the world's top oil consuming nation and demand in the country for the commodity tends to impact prices."As the Singapore market is closed, Asian trade is quiet today, with the focus on the Fed meeting" and geopolitical developments, said Yusuke Seta a broker at Newedge in Tokyo.In London Friday, Brent prices surged on geopolitical concerns.Brent tends to react more ...

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 ...

Japan offers Mexican crude from strategic reserves TOKYO: Japan's trade ministry on Monday issued a tender offering a total 1.89 million barrels (about 300,000 kilolitres) of Mexican crude from the government's Strategic Petroleum Reserves as part of a plan to replace the oil with other grades. The tender will be held on Aug. 13. The tender is for about 1 million barrels (160,000 kl) to be delivered between Sept. 10-Oct. 20 and the remaining 881,000 barrels (140,000 kl) to be delivered in ...

Oil prices rise ahead of weekend, US oil stabilizes NEW YORK: Oil prices rose Friday, with the New York contract stabilizing, as traders braced for a weekend that could see escalating geopolitical tensions in Ukraine and the Middle East.The US benchmark futures contract, West Texas Intermediate (WTI) for September, edged up two cents to $102.09 a barrel.In London, Brent North Sea crude for delivery in September settled at $108.39 a barrel, leaping $1.32 from Thursday's closing level.Traders were making some "readjustment" to the WTI ...

Oil slips below $107 as ample supply outweighs risk premium LONDON: Oil fell below $107 a barrel on Friday as plentiful supply outweighed concerns over conflicts in the Middle East and Ukraine. Brent crude for September delivery traded 18 cents lower at $106.89 a barrel by 1400 GMT. The contract had closed 96 cents lower on Thursday. "There is ample prompt supply of crude oil, but the geopolitics in Ukraine, Gaza, Iraq and Libya is providing support," said Olivier Jakob, an analyst at Petromatrix in ...

Nigerian crude exports to hit 16 month high in Sept LONDON: Nigeria will export around 1.90 million barrels per day (bpd) of crude oil in September including deferred cargoes, the highest monthly total in more than a year, according to loading schedules seen by Reuters on Friday. September's total will load in 61 cargoes and is up from August's revised rate of 1.82 million bpd.The total includes two cargoes of Qua Iboe crude, which were delayed to September from August. Nigeria's exports in September will ...

Oil flat around $107 as ample supply offsets risk premium LONDON: Oil held steady around $107 a barrel on Friday, as plentiful supply countered any premium to prices caused by concern over conflicts in the Middle East and Ukraine. Brent crude for September delivery traded 14 cents higher at $107.21 a barrel by 1020 GMT. The contract had closed 96 cents lower on Thursday.US crude for September delivery was up 10 cents at $102.17 a barrel, after settling $1.05 lower.The continuing conflicts, however, did little ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
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WeeklyJuly 10, 2014
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