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Brent rises to $110 on Libya violence, fall in output SINGAPORE: Brent crude rose to $110 a barrel on Monday on renewed concerns over Libya's oil output and following some of the worst violence in Tripoli since the 2011 war against Muammar Gaddafi.Heavily armed gunmen stormed Libya's parliament on Sunday and demanded its suspension, claiming loyalty to a renegade army general and deepening the chaos in the OPEC oil producer. "This is the worst outbreak of militia-related violence for a while and a reversal of the relatively positive sentiment that we had from Libya earlier in the month," said Mark Keenan, who heads commodities research in Asia at Societe Generale. "It's very likely that Libya is going to retain a strong geopolitical risk premium in oil markets going forward," Keenan said. Brent July crude gained 23 cents to $109.98 a barrel by 0602 GMT, after earlier touching an intraday high of $110.04. Front-month Brent ended last week nearly 2 percent ...


Oil prices rise on Libyan violence SINGAPORE: Oil prices edged higher in Asia Monday on escalating violence in crude producer Libya following a coup attempt by a rogue general that has raised concerns about potential supply disruptions, analysts said.The US benchmark, West Texas Intermediate (WTI) for delivery in June, rose 17 cents to $102.19 in afternoon trade, while Brent North Sea crude for July rose 24 cents to $109.99.Armed groups attacked Libya's interim parliament and an airbase in the east Sunday, ...

Brent oil to peak around $110.35 SINGAPORE: Brent oil July may peak around a resistance at $110.35 per barrel, as indicated by a Fibonacci projection analysis and a rising channel.The contract is riding on the final wave of an uptrend that developed from the May 1 low of $106.32.The trend consists of three bigger waves, with the third wave labelled C expected to be composed of another five small waves.The final wave, labelled 5, may peak around $110.35, the 161.8 percent ...

Oil prices rise on Libyan violence SINGAPORE: Oil prices edged higher in Asia Monday on escalating violence in crude producer Libya following a coup attempt by a rogue general that has raised concerns about potential supply disruptions, analysts said.The US benchmark, West Texas Intermediate (WTI) for delivery in June, rose five cents to $102.07 in mid-morning trade, while Brent North Sea crude for July rose ten cents to $109.85.Armed groups attacked Libya's interim parliament and an airbase in the east Sunday, ...

Venezuela to send oil to Palestinians CARACAS: Venezuelan President Nicolas Maduro pledged Friday to send oil and diesel to the Palestinian Authority, as part of agreements signed with its leader Mahmud Abbas during his visit to Caracas.Venezuela, which sits atop the world's largest oil reserves, said it would provide an initial shipment of 240,000 barrels of oil, but gave no details as to how it would send them."Thanks to Venezuela for supporting Palestine... to break Israel's monopoly on our economy, for ...

Oil edges up on US gasoline demand hopes, Ukraine crisis NEW YORK: Oil prices moved modestly higher Friday as the market found support from US gasoline demand hopes ahead of the looming summer-holiday driving season and the ongoing Ukraine crisis.The US benchmark, West Texas Intermediate (WTI) for delivery in June, closed at $102.02 a barrel, a gain of 52 cents from Thursday.Brent North Sea crude for July rose 66 cents to settle at $109.75 a barrel in London.Oil prices were finding support from the approaching ...

Oil prices rise as Libyan output squeezed NEW YORK: Global oil prices rose on Friday as investors worried about Libya after a recovery in the OPEC country's oil supply proved short-lived and government forces clashed with Islamist militias.Libya's El Feel oilfield was shut again by protests and the El Sharara field remained closed, bringing national oil output down to about 200,000 barrels per day (bpd) - far from the 1.4 million bpd pumped last year. The government had pledged to bring western ...


 



 
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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 $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln