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US natural gas slides as weather warms; oil, gold drop NEW YORK: US natural gas futures slumped 6.5 percent on Monday, as a thaw after last week's deep freeze reduced heating demand across much of the country, while oil slid as investors shed risky assets and gold fell 1 percent on profit taking after the precious metal hit a one-month high during the session.Copper futures hit their lowest in seven weeks on worries about an economic slowdown in top consumer China, while US government export data helped lift soybean prices.The Thomson Reuters/Core Commodity Index, a benchmark for global commodities made up of 19 components, closed down 1 percent, or 2.8245, at 279.7108.On the New York Mercantile Exchange, the front-month February natural gas futures contract, which will expire on Wednesday, closed down 33.5 cents, or 6.5 percent, at $4.847 per million British thermal units. It was the first drop in five sessions, as investors grabbed profits after last week's rally on ...


Angola's onshore oil potential over 7 billion barrels: firm LUANDA: Angola has over seven billion barrels of oil potential in onshore blocks and production rights will soon go on sale, state-owed company Sonangol said Monday."The ten blocs that we will award have great potential, with on average 700 million barrels each," said Severino Cardoso, head of exploration at the firm."But that can increase with more exploration," he told a news conference after an information session with prospective investors.Earlier this month Sonangol announced ten new ...

Midwest spot propane prices ease below $4 per gallon NEW YORK: Spot propane prices at the key storage and trading hub in Conway, Kansas, eased below $4.00 a gallon on Monday, traders and brokers said, after jumping to near $5.00 last week as the extreme cold in the United States caused a surge in demand for the heating fuel.Propane prices for January delivery traded at $3.80 a gallon in Kansas, after opening at $4.00, steady to where prices were seen late on Friday.Even after ...

Brazil says Shell must negotiate oil reserve RIO DE JANEIRO: Brazil's ANP oil regulator said Royal-Dutch Shell needs to negotiate with the Brazilian government on an oil reservoir that exceeds the limits of the concession block it controls with France's Total, according to an ANP document seen by Reuters. The oil reserve, located in Shell's BM-S-54 block, encroaches on areas controlled by the Brazilian government that have not yet been auctioned. Copyright Reuters, 2014

Brent falls more than $1; equities, US Fed weigh NEW YORK: Brent Oil prices fell more than $1 on Monday as investors continued to dump risky assets on worries about weaker growth in emerging markets. Global equities markets extended losses from last week on concerns about China's economic slowdown and expectations that the US Federal Reserve will scale back its bond buying by another $10 billion. The US government also announced weaker-than-expected new home sales data Monday, causing US equities ...

OPEC says can handle extra oil from Iran, Libya, Iraq LONDON: OPEC will be able to handle the extra oil expected to come from Iran, Iraq and Libya, OPEC's secretary general said on Monday, insisting the group would collectively head off any oversupply. Top OPEC supplier Saudi Arabia along with core Gulf producers the United Arab Emirates and Kuwait have increased supplies to fill the gap left from outages in Libya and Iraq and Western sanctions on Iran. A resolution of these issues could add ...

Mideast crude tanker rate rally fizzles out as bookings LONDON: Crude oil tanker earnings on the major Middle East route softened further on Monday as slower business ate into gains which saw rates rise to their highest in two years last week. The world's benchmark VLCC export route from the Middle East Gulf (MEG) to Japan reached W61.73 or $43,386 a day. That compared with W67.33 or $52,295 a day on Friday and W69.27 or $56,031 a day last Monday. Last Wednesday ...


 



 
Index Closing Chg%
Arrow DJIA 16,960.57 0.72
Arrow Nasdaq 4,449.56 0.50
Arrow S&P 1,978.34 0.48
Arrow FTSE 6,791.55 0.44
Arrow DAX 9,644.01 1.53
Arrow CAC-40 4,330.55 1.82
Arrow Nikkei 15,457.87 1.13
Arrow H.Seng 24,216.01 0.31
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln