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Oil prices drop on US budget woes LONDON: Global oil prices slid on Monday as a budget impasse in the United States threatens to shut down parts of the economy, which is the world's top consumer of oil.Brent North Sea crude for delivery in November dropped 70 cents to stand at $107.93 a barrel in London midday deals.New York's West Texas Intermediate for November lost $1.04 to $101.83 a barrel.Crude futures tracked losses on global equity markets, as investors across the world fretted over the possibility of a looming US government shutdown.The US is the world's biggest oil consuming nation and the health of its economy is therefore a key influence on crude prices."The energy sector was rather concerned the US budget impasse could hit the country's economic growth which in turn would hurt demand for oil," said dealer Jonathan Sudaria at traders Capital Spreads.Lawmakers have one final day to try to prevent the first US government ...


Oil prices tumble on concerns over US budget impasse SINGAPORE: Oil prices tumbled in Asian trade Monday as a budget impasse in the United States threatens to shut down parts of the economy, analysts said. New York's main contract, West Texas Intermediate for delivery in November fell $1.35 to $101.52 in afternoon trade, while Brent North Sea crude for November was down 95 cents to $107.68. Crude tracked losses on most Asian equity markets after the House of Representatives approved a Republican bill seeking ...

Oil prices tumble on concerns over US budget impasse SINGAPORE: Oil prices tumbled in Asian trade Monday as a budget impasse in the United States threatens to shut down parts of the economy, analysts said. New York's main contract, West Texas Intermediate for delivery in November fell $1.16 to $101.71 in mid-morning trade, while Brent North Sea crude for November was down 82 cents to $107.81. Crude tracked losses on most Asian equity markets after the House of Representatives approved a Republican bill seeking ...

Yemen oil pipeline pumping again after bomb damage repaired SANAA: Yemen's main oil export pipeline has started working again after damage caused by a bomb attack earlier this month was repaired, security and oil sources said on Saturday.Tribesmen attacked the pipeline in central Maarib province on Sept. 14 their fourth assault on it in a month halting flows to the Ras Isa terminal on the Red Sea.Groups often damage or destroy pipelines to press the government to provide jobs, settle land disputes or free ...

Oil falls as US and Iran look for nuclear deal NEW YORK: Oil fell on Friday as tensions eased between the United States and Iran, culminating in the first phone call between the two countries' presidents since 1979 and a pledge to work swiftly toward an agreement on Iran's nuclear program.US President Barack Obama said there was a "unique opportunity" to make progress on longstanding tension around Iran's nuclear program, which has led to western sanctions against the country that have curtailed its oil exports."It ...

Rosneft says buys Alrosa gas assets for $1.4bn MOSCOW: Russia's top oil producer Rosneft has agreed to buy gas assets from diamond miner Alrosa for $1.4 billion, in a drive to expand its natural gas business, Rosneft said on Friday.Rosneft also said the acquisition of Alrosa assets in the Yamalo-Nenets Autonomous Region and in the Republic of Sakha would increase its recoverable gas reserves by more than 200 billion cubic metres (bcm).Led by Igor Sechin, Rosneft has ambitions to become Russia's second-largest gas ...

Oil prices dip on Syria breakthrough LONDON: Oil prices fell on Friday after the United States and Russia agreed a draft UN Security Council resolution on destroying Syria's chemical arms, easing Middle East supply concerns, analysts said.Brent North Sea crude for delivery in November dropped 40 cents to stand at $108.81 a barrel in midday deals.New York's West Texas Intermediate for November slid 46 cents to $102.57 per barrel."The easing of the geopolitical tensions and the plentiful supply of the market ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln