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Gasoline cracks down on muted demand: Europe LONDON: Gasoline refining margins in northwest Europe fell on Tuesday, as crude oil prices rose and regional demand was slack."Gasoline is just not doing much," said one trader.European refining has seen little respite this year after months of poor margins, with traders and analysts saying weak demand and depressed cracks raised the spectre of further cuts in processing throughputs and even closures."The start of the year has been brutal for European refining margins with the Brent cracking margin languishing in deeper negative territory than seen in the last quarter of 2013, at least according to the conventional view," JBC analysts said in a note to clients.A desulphurisation unit at Shell's 404,000 barrel-per-day (bpd) Pernis refinery in Rotterdam was shut down on Monday following a brief gas leak, a company spokesman said on Tuesday.The refinery has six desulphurisation units, which remove sulphur from crude to make products, say market sources.The naphtha ...


Middle East Crude: Weakens; ESPO premiums slump SINGAPORE: The Middle East crude market softened on Tuesday, following a slump in Russian ESPO premiums on weak demand. Russian producer Surgutneftegas sold three ESPO cargoes for March loading via a tender to Shell. Two of the cargoes were priced at premiums below $5 to Dubai quotes, down from premiums between $6.2 and $6.9 fetched for cargoes sold last week. The March 23-27 cargo was priced at $6.40 while the March 19-23 and 26-30 cargoes ...

Oil rises to $107 as chill expected to drain US fuel stocks LONDON: Brent crude oil rose to $107 a barrel on Tuesday as the steepest fall in three weeks prompted buying, but concerns over turmoil in emerging markets and a slowdown in China kept gains in check. Oil also drew support from expectations of a steep fall in US distillate inventories as consumers burn heating oil during the bitter northern hemisphere winter. That helped support oil despite weakness in Asian shares, which remained near five-months lows. ...

Oil rebounds in Asia on bargain hunting SINGAPORE: Oil prices rebounded in Asian trade Tuesday on bargain hunting following sharp falls stoked by turbulence in global financial markets, as traders await the US Federal Reserve's next move on its stimulus programme. New York's main contract, West Texas Intermediate (WTI) for March delivery, was up 17 cents at $95.89 in afternoon trade while Brent North Sea crude for March gained 28 cents at $106.97.WTI sank 92 cents in New York trade Monday while ...

Seoul shares end higher as auto, telecom firms support SEOUL: Seoul shares ended higher on Tuesday, off a five-month closing low the previous day, buoyed by strength in the auto and telecoms sectors ahead of the US Federal Reserve's two-day policy meeting this week. The Korea Composite Stock Price Index (KOSPI) closed up 0.3 percent at 1,916.93 points, recouping some of the 1.6 percent slide of the previous session. Despite the persistent sell-off by foreigners, who sold a net 314.7 billion Korean won ($290.4 ...

Brent rises to $107 as steepest fall in 3 weeks prompts buying SINGAPORE: Brent futures rose to $107 a barrel on Tuesday as the steepest fall in three weeks prompted fresh buying, with concerns of turmoil in emerging economies and a slowdown in China keeping the gains in check. Oil also drew support from expectations of a steep fall in US distillate inventories, which would indicate ongoing robust demand for heating oil because of bitter winter cold in northern countries. That helped crude futures diverge from other ...

Oil rebounds in Asia on bargain hunting SINGAPORE: Oil prices rebounded in Asian trade Tuesday on bargain hunting following sharp falls stoked by turbulence in global financial markets, as nervous traders await the US Federal Reserve's next move on its stimulus programme. New York's main contract, West Texas Intermediate (WTI) for March delivery, was up nine cents at $95.81 in mid-morning trade while Brent North Sea crude for March gained 26 cents at $106.95.WTI sank 92 cents in New York trade Monday ...


 



 
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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