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Oil prices down in Asian trade SINGAPORE: Oil prices edged lower in Asia Friday under pressure from a supply glut and a strengthening US dollar, analysts said.US benchmark West Texas Intermediate for October delivery fell 20 cents to $92.87 while Brent crude for November eased 15 cents to $97.55 in mid-morning trade. Singapore's United Overseas Bank said a "stronger US dollar and higher US crude commercial inventories weighed on prices". The weekly US crude stockpiles report released Wednesday showed a surge of 3.7 million barrels instead of the 1.2 million barrel decline expected by the market.Oil prices also took a hit due to a strong US dollar.The greenback bought 109.20 yen in Asian trade Friday, compared with 108.68 yen in New York Thursday, supported by the US Federal Reserve's decision to stick to its timetable and only raise short-term interest rates next year.A stronger US dollar adds downward pressure on oil, which is traded in the ...

Oil edges lower on supply glut and strong dollar NEW YORK: Oil traded lower on Thursday, pressured by ample supply and concern over a weakening of demand growth in major consumer nations, as well as by a rise in the U.S. dollar.The decline in the global benchmark Brent price was limited by a drop in Libya's output and talk of OPEC production cuts. Brent hit a 26-month low on Monday after data showing a slowdown in China's factory output raised demand concerns.Meanwhile, the U.S. ...

Oil prices dip LONDON: Crude oil prices eased on Thursday as financial markets focused on Scotland's independent vote, while reacting to US data and uncertainty over OPEC's production outlook.US benchmark West Texas Intermediate for delivery in October dipped eight cents to $94.34 a barrel. Brent North Sea crude for November slipped 12 cents to stand at $98.85 a barrel in London afternoon deals."The nervousness is likely to remain on the market in the short term," said Commerzbank analysts ...

UK gas prompt prices rise, eyes on Scotland and sterling LONDON: Prompt natural gas prices in Britain rose on Thursday morning on the back of an undersupplied system.Prices for within-day delivery were trading at 49.95 pence per therm at 0948 GMT, up 0.95 pence or since their last settlement. Prices for delivery on Friday were up 0.80 pence at 49.80 pence per therm.With supply flows at about 146.7 million cubic metres (mcm) per day on Thursday and demand expected to be about 159.1 mcm, the ...

Oil edges lower below $99, but supply risks in focus LONDON: Oil traded slightly lower below $99 a barrel on Thursday, pressured by ample supply and concern over the weakening of demand growth in major consumer nations, as well as a rise in the U.S. dollar.Threats to supply as Libya's output fell and talk of OPEC production cuts limited the decline for global benchmark Brent, which hit a 26-month low on Monday after data showing a slowdown in China's factory output raised demand concerns."At present, ...

Brent oil to revisit low of $96.21 SINGAPORE: Brent oil is expected to revisit its Sept. 15 low of $96.21 per barrel, as it failed to break a resistance at $99.05.The resistance is provided by the 14.6 percent Fibonacci retracement on the downtrend from the June 23 high of $115.66 to $96.21. Oil's failure to overcome this barrier signals the downtrend remains steady within a small falling channel and could be extending towards the lower channel line.A rise to the Sept. 17 ...

Japan Aug crude imports fall, thermal coal imports at record high TOKYO: The volume of Japan's customs-cleared crude oil imports fell more than 11 percent in August from the same month a year earlier, while thermal coal imports hit a record high, government data showed on Thursday.Japan, the world's fourth-biggest crude buyer, imported 3.26 million barrels per day of crude oil last month (16.05 million kilolitres), down 11.5 percent, marking the steepest decline since May, preliminary data from the Ministry of Finance showed.Oil imports fell for ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln