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UK gas prices up in tight market on low nuclear, wind output LONDON: Britain's wholesale natural gas and power prices rose on Wednesday morning as the system was tight due to low pipeline inflows, a drop in wind power output and significant nuclear power outages.Prices for immediate delivery were trading at 39 pence per therm at 0745 GMT, up 0.35 pence or around 1 percent since their last settlement. Prices for delivery on Thursday were up 0.55 pence at 39.15 pence per therm."Lower wind capacity expected Thursday means that gas power stations will have to step in to meet demand, so that's been a bullish factor. Additionally, pipeline flows from Norway remain pretty low due to maintenance work in the North Sea, leaving the system a little undersupplied," one trader said.Meteorologists said they expected British wind power capacity to drop from around 3,000 megawatt (MW) on Wednesday to little more than 1,000 MW on Thursday, with the shortfall expected to be met ...


Asia Pacific crude steady; Brent's premium to Dubai falls below $1 SINGAPORE: The Asia-Pacific crude market held steady on Wednesday as trading for October-loading cargoes was slow to begin, although strong competition from sellers in West Africa and Latin America could weigh on demand for regional grades.Brent's premium to Dubai crude fell below $1 a barrel for the first time in over four years, as a glut of oil in the Atlantic Basin and in Asia weighed on the European benchmark.Brent-Dubai Exchange of Futures for Swaps ...

Middle East crude Oman weakens as supply rises SINGAPORE: The Middle East crude market weakened on Wednesday with Oman slipping into a wider discount against Dubai as ample supply weighed.Geopolitical tensions showed little signs of disrupting supply with OPEC's production hitting a five-month high of 30.44 million barrels per day (bpd) in July, according to the International Energy Agency.Iraq has also scheduled to export about 2.4 million barrels per day (bpd) of Basra Light crude in September, up from 2.2 million bpd in ...

Brent crude oil falls to 13-month low on strong supplies LONDON: Brent crude oil fell for a fourth straight day on Wednesday to its lowest in more than a year, dropping below $103 a barrel as strong supplies overshadowed fears of disruptions from violence in OPEC member Iraq.The international oil benchmark has fallen 11 percent since mid-June as the surge by Islamic State militants in northern Iraq has yet to lead to any major supply outages, while global crude output has been rising.Exports from Libya ...

Oil prices mixed after IEA slashes demand forecast SINGAPORE: Oil prices were mixed in Asia Wednesday after the International Energy Agency slashed its demand outlook for 2014 and 2015 while reporting a glut in global supplies despite conflicts in Iraq and Ukraine.US benchmark West Texas Intermediate for September rose four cents to $97.41 in afternoon Asian trade, after declining 71 cents in New York. Brent crude for September delivery was down 31 cents at $102.71. It fell $1.66 to finish at $103.02 in ...

Oil prices extends losses after IEA slashes demand forecast SINGAPORE: Oil prices extended losses in Asia Wednesday after the International Energy Agency slashed it demand outlook for 2014 and 2015, while reporting a glut in global supplies despite conflicts in Iraq and Ukraine.US benchmark West Texas Intermediate for September fell 19 cents to $97.18 in mid-morning Asian trade, after declining 71 cents in New York. Brent crude for September delivery was down 24 cents at $102.78. It fell $1.66 to finish at $103.02 in ...

Oil prices fall on weak demand forecast NEW YORK: Oil prices dropped Tuesday with the main European benchmark contract sinking to a 13-month low after the International Energy Agency slashed its demand outlook for 2014 and 2015.US benchmark West Texas Intermediate (WTI) for September delivery fell 71 cents to $97.37 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for delivery in September tumbled $1.66 to $103.02 a barrel, its lowest closing price since July 1, 2013. Pointing to slower ...


 



 
Index Closing Chg%
Arrow DJIA 18,126.12 0.20
Arrow Nasdaq 5,097.98 0.17
Arrow S&P 2,120.79 0.13
Arrow FTSE 7,040.92 1.11
Arrow DAX 11,677.57 0.79
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln