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US natgas rig count down 1 to 387: Baker Hughes NEW YORK: The number of rigs drilling for natural gas in the United States fell by one this week to 387, data from Houston-based Baker Hughes showed on Friday.It was the second drop in three weeks for the gas-directed rig count, which posted an 18-year low of 349 in late June.Recent rig count gains - the count has risen in six of the last nine weeks - have stirred concerns that new investment in gas pipelines and processing plants, particularly in the East, are allowing producers to hook up more wells and pump even more supply into an already well-supplied market.Gas futures prices on Friday, which were down 5.5 cents at $3.49 per million British thermal units just before the data was released, showed little reaction to the report.The oil-focused rig count fell for the third time in four weeks, shedding 15 rigs to 1,382. The oil rig count hit ...


Commodities enjoy mixed fortunes LONDON: Commodity markets diverged this week, torn between strong global economic data, and ongoing worries over the possible withdrawal of US Federal Reserve stimulus.Encouraging economic data from Britain, China, the eurozone and the United States sparked hopes of keen demand for many raw materials, providing limited support for some commodities.Arabica coffee and sugar prices sank as the Brazilian real currency tumbled on fears that the Fed's possible move could spark outflows of foreign cash. Brazil ...

Algeria shunts gas from Italy into global LNG exports LONDON: Algeria's output of liquefied natural gas (LNG) may rise after officials agreed to scale back piped gas deliveries to Italy, signaling a shift in export strategy for Africa's biggest gas producer.A lack of foreign investment in new upstream projects due to unattractive fiscal terms has left Algeria relying on ageing gas fields to maintain output as domestic demand surges and cuts into exports.But recent deals with Italian energy groups Eni, Edison and Enel to ...

Oil climbs on global demand hopes LONDON: World oil prices rose on Friday, energised by hopes that recent strong global economic data will translate into higher crude demand, dealers said.Brent North Sea oil for delivery in October rose ten cents to $110 a barrel in London early afternoon deals.New York's main contract, West Texas Intermediate (WTI) crude for September added 16 cents to $105.19 per barrel."Brent prices pushed higher at the end of the week following positive economic data released from ...

Oil prices mixed amid upbeat manufacturing data SINGAPORE: Oil prices were mixed in Asian trade Friday as upbeat manufacturing data from around the world fuelled hopes of firmer global demand, analysts said.New York's main contract, West Texas Intermediate for delivery in October, was down 16 cents to $104.87 in afternoon trade, while Brent North Sea crude for October added 20 cents to $110.10.Investors were cheered by figures pointing to a pick-up in the global economy.On Thursday a preliminary purchasing managers index (PMI) ...

Norway cuts oil price forecasts for 2014, 2015 OSLO: Norway's government is cutting its projections for oil prices by 4 percent for next year and 11 percent for 2015, reflecting higher supply and lower demand from the world's two biggest economies, its prime minister said late on Thursday.The Nordic country is the world's seventh-largest oil exporter. It can use up to 4 percent of its oil and gas revenues in its national budget, so it runs oil price projections to establish how much ...

Brent rises above $110 as global economic outlook glows SINGAPORE: Brent rose above $110 a barrel on Friday, buoyed by upbeat business surveys that suggested the global economy is on the mend and kindled hopes for higher fuel demand.The data showed manufacturing activity in the United States and China rose to multi-month highs while growth in the euro zone was better than expected, pointing to a potential uptick in world oil consumption."We've got a much better global demand outlook and that's the medium- to ...


 



 
Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
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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 23, 2014
Reserves $13.465 bln