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WTI crude edges lower on oversupply concerns NEW YORK: Crude oil prices closed mixed Friday as investors weighed a big supply in the US, encouraging trade data from China and renewed tensions with Iran.   New York's benchmark contract, West Texas Intermediate (WTI) for March delivery, settled 11 cents lower from Thursday at $95.72 a barrel.   In London trade, Brent North Sea crude for March leaped $1.66 to settle at $118.90 a barrel.   "The WTI crude oil market is exceedingly well-supplied," said Tim Evans, an analyst at Citi Futures.   Compared with a year ago, Evans said, US crude oil stockpiles were 9.6 percent higher and oil production was up about 22 percent, providing an additional 1.27 million barrels a day of production.   "WTI crude oil price is not following the Brent market higher because there is no bullish case for WTI crude oil, there is no reason for it to rally," he said.   A massive blizzard barreling down on the heavily populated US northeast ...


Brent crude rises more than $1/bbl LONDON: Brent crude futures rose by more than $1 a barrel on Friday, supported by tension in the Middle East and robust Chinese trade data.   By 1145 GMT, Brent was trading at $118.33, up $1.09.   Copyright Reuters, 2013

US natural gas futures end down on bearish EIA stocks data NEW YORK: Front-month US natural gas futures ended lower on Thursday for the first time this week as a bearish weekly inventory report weighed on the market, though a colder outlook for the second half of the month helped limit the downside.   The US Energy Information Administration report showed total domestic gas inventories fell last week by 118 billion cubic feet to 2.684 trillion cubic feet.   Most traders viewed the report as bearish, noting the draw came ...

US oil dips on refinery, pipeline outages NEW YORK: US crude prices tumbled Thursday after an extended US refinery outage revived concerns about a glut of crude sitting in the middle of the country.   A barrel of West Texas Intermediate crude for delivery in March fell 79 cents to $95.83 a barrel on the New York Mercantile Exchange.   The drop in WTI crude came as European oil benchmark Brent crude rose 51 cents to $117.24 a barrel, a dynamic that once again increased the ...

Oil prices rise ahead of ECB announcement   LONDON: Oil prices advanced on Thursday, with Brent reaching fresh five-month high levels before a European Central Bank monetary policy announcement and the release of trade data from China.   Brent North Sea crude for March delivery reached $117.72 a barrel -- the highest level since September 14. In later London midday deals, the contract stood at $117.63, a rise of 90 cents compared with Wednesday's close.   New York's main contract, light sweet crude for March gained 33 ...

Statoil OSLO: Norway's Statoil's net profit for the fourth quarter of 2012 plunged by nearly 50 percent year-on-year to $2.36 billion (1.75 billion euros), according to results released by the state-owned oil and gas giant on Thursday.   Net profit for the last quarter of 2012 stood at 13 billion Norwegian kroner, compared to 25.5 billion for fourth quarter 2011.   The company said, however, that it was still on track to its goal of producing more than 2.5 million ...

Oil up in Asian trade ahead of ECB meeting           SINGAPORE: Oil was up in Asian trade Thursday as investors awaited the results of a European Central Bank (ECB) meeting and the release of trade data from China.   New York's main contract, light sweet crude for delivery in March gained 16 cents to $96.78 a barrel in the afternoon and Brent North Sea crude for March delivery increased 12 cents to $116.85.   "Markets are looking forward to the European Central Bank meetings and the release of Chinese ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
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