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Oil prices mixed; stronger dollar weighs on WTI NEW YORK: Crude oil prices closed mixed Friday, with the WTI futures contract under pressure from a stronger dollar and Brent gaining after Scotland rejected independence from the United Kingdom. US benchmark West Texas Intermediate for October fell 66 cents, closing at $92.41 a barrel.Brent North Sea crude for delivery in November rose 69 cents to settle at $98.39 a barrel in London, recovering from a two-year low earlier this week. The WTI contract weakened as the dollar traded at six-year highs against the yen and 14-month highs against the euro. The greenback gained after the Federal Reserve on Wednesday stuck to its timetable on hiking US interest rates but indicated they could rise more sharply than initially envisaged.A stronger dollar adds downward pressure to dollar-priced oil, making it more costly for buyers using weaker currencies."The expectations for potential US interest rate hikes next year is making the dollar more ...


US crude falls on worries about glut, Brent flat NEW YORK: US crude oil fell on Friday, on track for its fourth daily decline on continued concerns about ample supply at a time of weak global economic data and fragile demand.Analysts and traders also cited some liquidation of long positions ahead of Monday's expiration of the front-month light-crude contract.Brent crude hovered around $98 a barrel, as talk of possible OPEC production cuts kept the benchmark up from the 26-month lows reached at the start ...

EU carbon tops 6 euros as buyers lend support LONDON: European carbon prices were poised to end the week almost flat after buyers stepped in to lift prices from six-week lows and restore optimism that supply curbs would drive further gains.By 1547 GMT, front-year EU Allowances were up 4 cents at 6.03 euros ($7.75) a tonne, little changed in a quiet session with barely 5 million units changing hands. The benchmark carbon contract has crept above 6 euros in steady trade that traders said ...

Exxon says US allows it to wind down drilling in Russian Arctic WASHINGTON: US oil major Exxon Mobil said on Friday the US Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic.US sanctions on Russia over its aggression in the Ukraine seek to stop billions of dollars worth of cooperation between Western and Russian energy companies on oil drilling in Russia's Arctic, in Siberia and offshore.Copyright Reuters, 2014

West Africa Crude Low supply supportive, Nigerian overhang weighs LONDON: Differentials for West African crude oil were supported by demand from European refiners, and lower supply available for November exports.The Forcados grade of crude oil was set to export around 176,000 barrels per day (bpd) in November compared with 225,000 in October, a shipping list indicated.Exports for the benchmark Qua Iboe grade were also lower for November than October, while Angolan exports were set at 1.53 million barrels per day, the lowest since April.Angolan ...

North Sea Crude-Forties steady, Asia shipments in focus LONDON: North Sea Forties crude differentials held steady on Friday, supported by pending and potential VLCC shipments to Asia which would reduce supplies in northwest Europe. Vitol has booked the VLCC Seeb for a shipment to South Korea and GS Caltex is understood to be the buyer, according to market sources.The vessel is anchored offshore Hound Point in the Firth of Forth waiting to load, according to shipping data. Another could be on the way ...

Oil prices steady at end of volatile week LONDON: World oil prices steadied on Friday after Brent crude had this week hit a two-year low point against a backdrop of solid supplies and dampening demand growth.Brent North Sea crude for delivery in November edged up six cents to stand at $97.76 a barrel around midday in London. US benchmark West Texas Intermediate for October eased 22 cents to $92.85 a barrel."Brent is trading somewhat more firmly than a week ago after some extremely ...


 



 
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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 $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln