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Brent rises on Ukraine crisis but heads for monthly fall LONDON: Brent crude oil prices rose towards $103 a barrel on Friday as escalating violence in Ukraine kept Europe's markets on edge, but prices were still on track for a monthly loss as ample supply and weak demand outweighed political concerns. The European benchmark oil contract had plunged over 12 percent from a nine-month high in June to a 14-month low last week as weak demand led to an oil supply glut. Prices rose on Friday after the government in Kiev said Russian troops had entered the country in support of pro-Moscow rebels, intensifying a separatist war and prompting alarm among Kiev's Western allies, as well as fears of new sanctions that could target Russia's energy sector. Russia is Europe's biggest supplier of oil, coal and natural gas, meeting around a third of demand for all those fuels, according to Eurostat data. It receives in return some $250 billion a ...


Oil climbs on Ukraine tensions, bright US data LONDON: Global oil prices rose on Friday, supported by renewed Russia-Ukraine tensions and bright US economic growth data, analysts said.Brent North Sea crude for October added 42 cents to $102.88 per barrel in midday London deals.US benchmark West Texas Intermediate for October delivery gained 57 cents to $95.12 a barrel.Ukraine and the West said on Thursday that Russian troops are actively involved supporting pro-Kremlin separatists who have been fighting against Kiev's rule since April. NATO ...

Neste Oil cuts profit outlook due to refinery damage HELSINKI: Finland's Neste Oil on Friday cut its profit outlook for the full year due to previously announced hydrogen plant damage at its Porvoo refinery.Neste said it had reduced output and shut down one diesel production line at the refinery, adding that the total impact to operating profit would be about 60 million euros ($79 million) this year.The company said it now expects comparable operating profit for 2014 to be below 400 million euros.It had ...

Oil prices up on Ukraine tensions, rosy US data SINGAPORE: Oil prices rose in Asia Friday supported by renewed Russia-Ukraine tensions and upbeat US economic data, analysts said.US benchmark West Texas Intermediate for October delivery was up 11 cents at $94.66 while Brent crude for October advanced 24 cents to $102.70 in mid-morning trade. Ukraine and the West said Thursday that Russian troops are actively involved supporting pro-Kremlin separatists who have been fighting against Kiev's rule since April. NATO said at least 1,000 Russian ...

UK gas prompt prices rise on undersupplied system LONDON: Prompt natural gas prices in Britain rose on Thursday morning as a dip in supplies from from Norway left the system undersupplied.Prices for within-day delivery were trading at 43.90 pence per therm at 0853 GMT, up 0.70 pence since their last settlement. Prices for delivery on Friday were also up 0.70 pence at 43.70 pence per therm.Traders said demand for gas from power generators is high due to outages at nuclear plants in Britain ...

Middle East crude Oman weakens despite uptick in refining margins  SINGAPORE: The Middle East crude market weakened on Thursday as abundant supply and weak demand continued to weigh on the market despite a slight improvement in refining margins.Shell sold two Dubai partials to Vitol in the Platts window at $100.60 a barrel.Refining margins have improved slightly over the past 10 days, mainly due to improving middle distillate cracks.Murban was discussed at 80-90 cents a barrel below the official selling price (OSP), while Das Blend was ...

Asia Pacific crude brent/Dubai gap narrows; ESPO steady SINGAPORE: The Asia-Pacific crude market held steady on Thursday, although differentials could find support from Brent's narrowing premium to Dubai and lower inflows of West African grades.Differentials for Russia's ESPO crude held steady after Surgut sold three 730,000-barrel cargoes at $1.50-$1.80 a barrel above Dubai quotes.Premiums for the sour grade have ranged between $1.20 and $1.80 a barrel over the last couple of weeks, according to Reuters data.Differentials failed to improve despite lower supply expected ...


 



 
Index Closing Chg%
Arrow DJIA 17,098.45 0.11
Arrow Nasdaq 4,580.27 0.50
Arrow S&P 2,003.37 0.33
Arrow FTSE 6,825.31 0.08
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Arrow CAC-40 4,379.73 0.03
Arrow Nikkei 15,476.60 0.34
Arrow H.Seng 24,752.09 0.04
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln