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Iran nuclear deal shipping insurance element may help oil sales DUBAI: Iran's nuclear deal with the West is not intended to let more of its oil into the market, the White House said, but an easing of the ban on European shipping insurance may help smooth crude exports to its big Asian customers.Iran and six world powers reached a deal early on Sunday to curb Tehran's nuclear programme in exchange for limited sanctions relief.U.S. and European Union sanctions that prevent energy companies from investing in Iran, and have slashed Tehran's oil exports from 2.5 million barrels per day (bpd) to around 1 million bpd, remain in place."In the next six months, Iran's crude oil sales cannot increase," a fact sheet posted by the White House on the U.S. State Department's website on Sunday said."Under this first step, the EU crude oil ban will remain in effect and Iran will be held to approximately 1 million bpd in sales, resulting in ...


Iraq oil sales recover from lows, but still below peak BAGHDAD: Iraq's oil exports in October recovered from a 19-month low, but remained far below their peak due to ongoing maintenance and sabotage of pipelines, figures released on Saturday showed.Iraq exported 69.8 million barrels of oil in October, or 2.25 million barrels per day, resulting in overall revenues of $7.16 billion (5.28 billion euros), according to the oil ministry.The figures marked an increase from September's 19-month low of 2.07 million bpd, but remained below the ...

US natgas futures up for 3rd day, front hits month high NEW YORK: US natural gas futures held gains for a third straight day on Friday, with the front-month contract posting a fresh one-month high in the face of forecasts for cold weather late this week and next week that should lift demand for heating. "There are some conflicting weather forecasts, but in the short term it's going to be very cold, and that's been pushing up prices," a Pennsylvania-based trader said, adding Thursday's ...

North Sea Crude-Bid up as refiners return to market LONDON: North Sea crude oil differentials rose on Friday as buyers came for Brent, Oseberg and Ekofisk to fill a steady stream of shipments scheduled to leave the region in coming weeks.Refiners are at last emerging from maintenance and are ramping up runs. Spanish refiner Repsol has fixed the Minerva Lisa to take 80,000 tonnes of Ekofisk from Teesport to Northern Spain on Nov. 27, according to shipping data.This follows a fixture by Shell earlier ...

Urals stronger in tenders, China stops buying  LONDON: Urals crude differentials strengthened on Friday despite weak refining margins as traders cited uncertainty over a potentially short loading programme in December. Oil firm Surgut sold early December Urals cargoes from the Baltic ports of Ust-Luga and Primorsk to Shell, Glencore and Neste at a tender at dated Brent minus 70-85 cents, some 55-70 cents stronger than previous price estimates. There were no deals, bids or offers in the Platts window for Urals, CPC ...

Brent slips below $110, but on track for second weekly gain SINGAPORE: Brent oil futures slipped below $110 per barrel on Friday but were on track to end higher for the second week running after sharp overnight gains, with investors waiting for the outcome of talks on Iran's nuclear programme. Oil prices jumped on Thursday, fuelled by a surge in gasoline futures, signs of continued economic strength in the United States and indications that a deal to curb Tehran's nuclear programme could be a long time ...

British spot gas retreats from 7 month highs LONDON: British gas prices for immediate delivery edged back up on Friday from seven-month highs achieved earlier in the week as higher Norwegian flows and slightly milder temperature forecasts reduced strain on the network. The within-day contract fell 0.40 pence to 69.30 pence per therm at 1030 GMT as improved flows from main supplier Norway reduced the call on expensive stored gas reserves. Prices hit seven-month highs of 70 pence earlier this week. The market ...


 



 
Index Closing Chg%
Arrow DJIA 17,810.06 0.51
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln