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Oil prices dip LONDON: Crude oil prices eased on Thursday as financial markets focused on Scotland's independent vote, while reacting to US data and uncertainty over OPEC's production outlook.US benchmark West Texas Intermediate for delivery in October dipped eight cents to $94.34 a barrel. Brent North Sea crude for November slipped 12 cents to stand at $98.85 a barrel in London afternoon deals."The nervousness is likely to remain on the market in the short term," said Commerzbank analysts in a note to clients. "Today sees Scotland holding its independence referendum. Although this has no direct influence on the current supply/demand situation, oil prices could react nonetheless."Oil prices were meanwhile under pressure "after the US Department of Energy reported an unexpected increase of US crude inventories by 3.7 million barrels instead of the market forecast for a 1.2 million decline," said analysts at Singapore's United Overseas Bank (UOB). UOB said oil prices took a ...

UK gas prompt prices rise, eyes on Scotland and sterling LONDON: Prompt natural gas prices in Britain rose on Thursday morning on the back of an undersupplied system.Prices for within-day delivery were trading at 49.95 pence per therm at 0948 GMT, up 0.95 pence or since their last settlement. Prices for delivery on Friday were up 0.80 pence at 49.80 pence per therm.With supply flows at about 146.7 million cubic metres (mcm) per day on Thursday and demand expected to be about 159.1 mcm, the ...

Oil edges lower below $99, but supply risks in focus LONDON: Oil traded slightly lower below $99 a barrel on Thursday, pressured by ample supply and concern over the weakening of demand growth in major consumer nations, as well as a rise in the U.S. dollar.Threats to supply as Libya's output fell and talk of OPEC production cuts limited the decline for global benchmark Brent, which hit a 26-month low on Monday after data showing a slowdown in China's factory output raised demand concerns."At present, ...

Brent oil to revisit low of $96.21 SINGAPORE: Brent oil is expected to revisit its Sept. 15 low of $96.21 per barrel, as it failed to break a resistance at $99.05.The resistance is provided by the 14.6 percent Fibonacci retracement on the downtrend from the June 23 high of $115.66 to $96.21. Oil's failure to overcome this barrier signals the downtrend remains steady within a small falling channel and could be extending towards the lower channel line.A rise to the Sept. 17 ...

Japan Aug crude imports fall, thermal coal imports at record high TOKYO: The volume of Japan's customs-cleared crude oil imports fell more than 11 percent in August from the same month a year earlier, while thermal coal imports hit a record high, government data showed on Thursday.Japan, the world's fourth-biggest crude buyer, imported 3.26 million barrels per day of crude oil last month (16.05 million kilolitres), down 11.5 percent, marking the steepest decline since May, preliminary data from the Ministry of Finance showed.Oil imports fell for ...

Brent falls towards $98 on strong dollar, US crude stocks spike SINGAPORE: Brent crude dropped towards $98 per barrel on Thursday, pressured by a stronger dollar on fears about a looming US interest rate increase and a steep spike in US crude stocks. Poor demand and abundant supplies have pushed down the oil benchmark toa 26-month low earlier this week, and have kept it below $100 for more than a week. Brent crude for November delivery was down 50 cents lower at $98.37 a barrel by ...

India's BPCL cancels 1st offers of Euro III diesel cargoes SINGAPORE: India's Bharat Petroleum Corp Ltd (BPCL) has cancelled offers to sell its Euro III diesel cargoes for the first time in the export markets, traders familiar with the matter said on Thursday. The reason behind the cancellation was unclear but there was talk that demand for diesel in general was poor in Asia. Last week, BPCL had offered three 350 ppm diesel grade cargoes totalling 105,000 tonnes for October loading from Mumbai and Kochi. ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln