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Brent slips below $110 on Fed policy concerns; Egypt supports SINGAPORE: Brent crude prices slipped below $110 a barrel on uncertainty over when the US Federal Reserve will scale back its bond-buying program, but unrest in Egypt and reduced oil product supply from Libya kept a floor under prices.Brent crude oil futures for October fell 24 cents to $109.66 a barrel by 0215 GMT, down from a four-month peak of $111.53 on Aug. 15.US crude oil futures for September fell 7 cents to $107.03.Investors are waiting on minutes from the US central bank's latest policy meeting, due Wednesday, which could provide fresh clues on when the Fed plans to taper its monthly $85 billion in asset purchases, which many believe could begin next month."There's some book-squaring going on prior to the FOMC minutes on Wednesday as well as Chinese flash PMI numbers on Thursday," said Ric Spooner, chief market analyst at CMC Markets in Sydney."The market remains well supplied so ...


Oil prices lower ahead of US crude stockpiles data SINGAPORE: Oil prices inched down in Asian trade Tuesday as dealers US crude stockpiles data for clues about demand in the world's biggest economy, analysts said. New York's main contract, West Texas Intermediate for delivery in September, was down seven cents at $107.03 a barrel in mid-morning trade while Brent North Sea crude for October eased 25 cent to $109.65."The market is taking a wait-and-see approach," Victor Shum, managing director at IHS Purvin and Gertz ...

Libya declares force majeure on four oil ports LONDON: Libya's state oil company National Oil Corp (NOC) has declared force majeure on crude oil and oil product exports from their Zueitina, Marsa al Brega, Ras Lanuf and Es Sider terminals, NOC document showed on Monday"(They) are closed due to Oil Security Guards who are on strike at these locations since the end of July 2013," the document said, "Therefore, NOC declares the Force Majeure situation at the above mentioned ports including all its ...

Statoil Troll field to see reduced capacity this winter STAVANGER: Ongoing technical problems at the giant Troll gas field in the North Sea will reduce Statoil's capacity to produce gas there during the coming winter, when demand peaks, a senior company executive said on Monday.The company said in January it had a problem with the motor on a compressor at Troll. A start-up on the compressor has been delayed several times and it has been unclear when it would restart."We are talking (about) through ...

Speculators' Brent longs hit record high: ICE LONDON: Large speculators raised their net long positions in Brent crude oil futures and options to a record high in the week to Aug. 13 as oil supplies from Libya fell, tightening the global crude market.Data from the IntercontinentalExchange (ICE) showed on Monday that money managers increased their net long positions in the North Sea benchmark by 4,738 contracts to 193,527, the highest recorded since ICE position data became available in 2011.The previous high for ...

Yancoal Australia takes $343mn hit on coal price fall MELBOURNE: The Chinese parent of Yancoal Australia made a $343 million provision for losses after warning it expected coal markets to remain weak as its subsidiary slid into the red due to plunging coal prices.In a Hong Kong stock exchange filing on Monday, Yancoal Australia's Chinese parent, Yanzhou Coal Mining Co Ltd , said falling coal prices made it necessary to take a 2.1 billion yuan ($343.4 million) provision for impairment of assets, given a ...

Oil prices dip in Asian trade SINGAPORE: Oil prices dipped in thin Asian trade Monday, but remain supported by fears that the unrest in Egypt could spread across the Middle East and block off supplies, analysts said.New York's main contract, West Texas Intermediate for delivery in September, was down nine cents at $107.37 a barrel in afternoon trade.Brent North Sea crude for October delivery shed one cent to $110.39."Oil prices remain supported by the situation in Egypt with fears that it ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln