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Brent rises above $103 after US consumer data LONDON: Brent crude rose over $103 a barrel on Tuesday as bullish U.S. consumer data overshadowed the effect of persistent supply pressure and weak economic data in most countries that are major users.The benchmark is headed for a second straight monthly decline in August as slow growth in China and Europe has curbed oil demand and led to a supply glut in the Atlantic Basin, offsetting the impact on prices from world political tensions.Brent crude rose 68 cents to $103.33 a barrel by 1406 GMT, adding to a gain of 36 cents the previous day. U.S. crude, or West Texas Intermediate (WTI), gained 88 cents to $94.23 a barrel, after rising $1 to $94.35 a barrel on Monday.The U.S. consumer confidence index rose to its highest level since October 2007, indicating Americans are increasingly confident about the economic outlook.Investors, meanwhile, have unwound a global political risk premium in Brent, discounting ...


Oil prices climb on tensions LONDON: Oil rose on Tuesday on geopolitical tensions in crude producers Iraq and Libya as well as Ukraine, a key conduit for Russian gas exports to Europe, dealers said.However, market gains were capped by ongoing jitters over abundant crude supplies and weak demand amid poor global economic data.Brent North Sea crude for October added 19 cents to stand at $102.84 per barrel in midday London deals.US benchmark West Texas Intermediate for October delivery gained 25 ...

UK gas prices up as cool weather, low Norway flows leave system short LONDON: British wholesale natural gas and power prices rose on Tuesday morning as relatively cold weather and low imports from Norway left the system undersupplied.Gas prices for delivery within Tuesday as well as for use on Wednesday were both trading at 43.50 pence per therm at 0830 GMT on Tuesday, up 1.5 pence since their last close, and power prices for baseload (24 hours) delivery on Wednesday were up 1.5 pounds per megawatt-hour (MWh) to ...

Brent inches up towards $103, supply glut caps gains LONDON: Brent crude climbed towards $103 a barrel on Tuesday, rising for a second session, although persistent supply pressure and weak economic data in major consumer countries curbed gains.The benchmark is set for a second straight monthly decline in August as slow growth in China and Europe has curbed oil demand and led to a supply glut in the Atlantic Basin, offsetting the impact on prices from world political tensions.Brent crude rose 16 cents to ...

Canada's Ivanhoe Energy to terminate Ecuador contract QUITO: Ecuador's state-run Petroamazonas oil company is in the process of terminating a contract with Canada's Ivanhoe Energy, officials said Monday.Ivanhoe has held a 30-year oil exploration contract in Ecuador's Amazon jungle, at a price of $37 per barrel."We are currently in the process of terminating the contract with Ivanhoe" and "thinking of how to redefine exploration and find more investors," Petroamazonas manager Oswaldo Madrid told the El Comercio newspaper.Pedro Merizalde, the South American country's ...

Oil prices up in Asia SINGAPORE: Oil prices rose in Asia Tuesday as dealers await the release of a batch of US economic data for clues on whether the Federal Reserve will speed up its timetable for raising interest rates, analysts said. US benchmark West Texas Intermediate for October delivery rose 20 cents to $93.55 while Brent crude for October gained 13 cents $102.78 in late-morning trade.Data on US durable goods orders in July, the 20-city Case-Shiller home price index ...

Oil prices trade mixed NEW YORK: Oil prices traded in a mixed fashion Monday, with little in the way of major news moving the markets.US benchmark West Texas Intermediate for October fell 30 cents to close at $93.35 a barrel on the New York Mercantile Exchange.In London trade, Brent crude for October closed at $102.70, up 41 cents from Friday.The market is "really indecisive today," said Robert Yawger of Mizuho Securities USA, noting "relative weakness in the WTI while ...


 



 
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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 25, 2014
Reserves $13.925 bln