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European physical coal prices rebound LONDON: European physical coal prices for June delivery rose slightly on Friday in a thinly traded market in reaction to a week-long downward trend. Cargoes for delivery in June to the ports of Amsterdam, Rotterdam and Antwerp (ARA) were valued at $76.25 a tonne, up $0.35 from the previous settlement. The contract has been falling most of the week thanks partly to mild weather and a perception that the delivery period had become over-valued. A mild winter has left Europe's coal stocks relatively high, and a warm start to spring is further weighing on demand. Despite the low demand, prices rose throughout much of March, restoring profitability to coal miners, many of whom were operating below break-even levels previously. South African physical contracts from the Richards Bay terminal for delivery in May were valued at $73.00 a tonne, down $0.90 from Wednesday's levels.Copyright Reuters, 2014


Oil firms keep up Gunvor trade after US sanctions target co-founder LONDON: Oil companies are reviewing their dealings with Russian commodities trader Gunvor but have not altered their business links, industry sources said on Friday, after the United States imposed sanctions on its billionaire co-founder. The United States added Gennady Timchenko to its sanctions list on Thursday, to put pressure on Russia over the annexation of Crimea, forcing him to sell his near 50 percent Gunvor stake to Chief Executive Officer Torbjorn Tornqvist this week to ...

Diesel steady on slowing demand, Ukraine tensions LONDON: European diesel barge differentials held steady on Friday as slowing demand in the region was offset by concerns that Western sanctions on Russia could impact the oil market. Buying interest in northwest Europe revived this week due to lower outright prices and a stronger euro, which makes dollar-denominated commodities cheaper. Demand however weakened on Friday, with fewer trades reported in Switzerland and Germany. Higher barge freight costs have further dampened demand, traders said. ...

Brent, US oil rise more than $1 on sanctions NEW YORK: Crude oil futures surged more than $1 on Friday as traders scrambled to cover short positions ahead of the weekend after US sanctions against Russia, the world's second-largest oil exporter, renewed fears of a supply disruption.The European Union imposed sanctions against the Russian deputy prime minister, two aides to President Vladimir Putin and nine others on Friday. Those added to the nearly two dozen prominent Russians Washington sanctioned Thursday, including Gennady Timchenko, co-founder ...

LNG tanker Mozah to arrive in Britain around April 8 from Qatar LONDON: The liquefied natural gas (LNG) tanker Mozah is expected to arrive in Britain around April 8 from Qatar, Reuters shipping data showed. The 261,000 cubic metre capacity tanker is currently in the Strait of Hormuz and will deliver LNG from Qatar, the world's biggest exporter of the fuel. Copyright Reuters, 2014

China's Feb crude imports from Iran rise 6pc y/y BEIJING: China's February crude oil imports from Iran rose 6 percent from a year ago to 552,613 barrels per day (bpd), customs data showed on Friday, keeping imports in 2014 close to levels before Western sanctions were applied more than two years ago. Iran's exports have been rising the past four months, ever since the breakthrough November deal that eased some sanctions on Tehran in exchange for curbs on its nuclear programme.Under the temporary deal, ...

Brent oil rises near $107 as US expands Russia sanctions LONDON: Brent crude rose towards $107 per barrel on Friday as fresh US sanctions against Russia, the world's second-largest oil exporter, increased fears of a disruption to supplies. Brent remained on track for a fourth weekly loss, however, with a seasonal slump in demand leading to a near 5 percent slide since the beginning of March, when prices briefly jumped to a three-month high above $112 as Russia took control of Ukraine's Crimea region. Washington ...


 



 
Index Closing Chg%
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln