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Brent dips toward $110 on demand worries, US supply SINGAPORE: Brent crude slipped toward $110 a barrel on Wednesday, dropping for a second straight day, as swelling oil inventories in the United States and recent weak data fuelled worries about demand from the world's top consumer.US oil prices suffered further pressure from concerns about a prolonged pipeline outage in the Midwest leading to a buildup in stockpiles near the delivery point of the benchmark contract in Cushing, Oklahoma.Crude oil stocks in the United States rose 4.7 million barrels for the week ended March 29, according to data from industry group the American Petroleum Institute, much higher than the 2.2 million forecast by a Reuters poll.Investors suggest the build in inventory reflects a weak economy that is still struggling to recover, and limiting oil demand growth."The US economy took such a body blow three, four years ago with the financial crisis, it's like a patient that's been hit by a ...


E.ON Russia sees electricity output flat in 2013 MOSCOW: E.ON Russia, the Russian arm of German utility E.ON, expects its electricity production to be roughly the same level this year as in 2012, its deputy head Ulf Backmeyer said on Tuesday. In 2012, the company's power generation increased by 2.8 percent to 64.2 billion kWh. Copyright Reuters, 2013

E.ON Russia sees electricity output flat in 2013 MOSCOW: E.ON Russia, the Russian arm of German utility E.ON, expects its electricity production to be roughly the same level this year as in 2012, its deputy head Ulf Backmeyer said on Tuesday. In 2012, the company's power generation increased by 2.8 percent to 64.2 billion kWh. Copyright Reuters, 2013

Eurasia Drilling net profit up MOSCOW: Russia's top oilfield services company Eurasia Drilling (EDC) said on Tuesday its 2012 net income jumped 35 percent year-on-year to $382 million as oil firms fought output declines at depleted fields.The company also said it had signed a new agreement with Russia's second-largest oil producer Lukoil for onshore drilling and completion operations, running through to the end of 2015.Last year, Lukoil accounted for 57 percent of the total metres drilled by EDC, with state ...

Japan to start LNG futures contract TOKYO: Japan is preparing to create the world's first futures trading contract for liquefied natural gas in a bid to stabilise the commodity's price as demand soars, an industry ministry official said Tuesday.Resource-poor Japan and neighbouring South Korea are the world's two top buyers of LNG with East Asia accounting for about 60 percent of global demand, but the region also tends to pay higher prices with shipping costs expensive and rates varying from place ...

Oil prices fall in Asia after weak US data SINGAPORE: Oil prices eased in Asia on Tuesday, hit by disappointing manufacturing data and a pipeline closure in the United States, analysts said.New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in May, shed 38 cents to $96.69 a barrel in the afternoon and Brent North Sea crude for May dropped 33 cents to $110.75."Lower prices are mainly a reaction to the weak manufacturing indices (in the United States)," said Ric ...

Brent steadies under $111, curbed by US demand outlook SINGAPORE: Brent crude steadied under $111 a barrel on Tuesday, supported by prospects of stronger appetite in Asia but hurt by concerns over the pace of economic recovery in top consumer the United States.Saudi Arabia Oil Minister Ali Al-Naimi said on Monday he expected to see a recovery in demand for the kingdom's crude in Asia but stopped short of quantifying the expansion.China, the world's second-largest oil consumer, imported 1.08 million barrels a day of ...


 



 
Index Closing Chg%
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Arrow S&P 1,987.98 0.05
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Arrow Nikkei 15,284.42 0.29
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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