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UK gas prices for Friday fall on warmer weekend weather outlook LONDON: British natural gas and power prices largely fell on Thursday as rising temperatures reduced demand and the weak oil market weighed on contracts, although a tight system during the morning did push up prices for delivery within the day.Britain's gas demand was expected to be 212 million cubic metres (mcm) on Thursday, around 5 percent above the seasonal norm, according to National Grid. With flows seen only at 194.4 mcm, the system would be 17.6 mcm undersupplied.As a result, gas prices for delivery within the day gained 0.5 pence per therm from their last close to 51 pence at 0915 GMT.The undersupplied system was a result of lower gas flows from Norway as well as a storage outage at Britain's Hornsea facility as well as an ongoing outage at the Britannia gas processing facility.Despite the tight system, gas prices for delivery on Friday dropped, 0.4 pence to 50 pence ...


Asia Pacific crude weaker; Sokol, Chim Sao premiums fall SINGAPORE: The Asia-Pacific crude market weakened on Thursday as a combination of poor refining margins and a glut of crude in the region weighed on differentials.Oil prices continued to slide, with Brent crude futures falling to a four-year low below $83 a barrel as growing concerns over the global economy stretched a four-month rout.Brent's premium to Dubai swaps, or Brent-Dubai Exchange of Futures for Swaps (EFS), was unchanged at $1.75 a barrel.TENDERSPV Oil, the marketing ...

Oil hedging surge flips long-dated WTI into rare contango NEW YORK: Long-term US crude oil markets flipped into contango this week for the first time in years, as the dizzying descent in prices unleashed a wave of hedging by oil producers fearing prices may not stay above $80 a barrel for long.Contango, in which longer-dated futures are more expensive than near-term contracts, has yet to take hold at the prompt end of the oil futures curve, from the front month, November 2014, well into ...

Oil slide deepens as economic worries mount SEOUL/SINGAPORE: Oil fell more than $1 a barrel on Thursday, with Brent crude hitting a fresh four-year low at below $83, as growing concerns over the global economy stretched a four-month rout.Brent has lost more than 28 percent since June amid slow demand and abundant supply, with losses accelerating in recent weeks on signals that the Organization of the Petroleum Exporting Countries will not slash output to rescue prices.Economic concerns accelerated losses in oil prices ...

Oil prices tumble in Asia SINGAPORE: Oil prices resumed their downward spiral in Asian trade Thursday following another sell-off in equities as traders grow increasingly concerned about the global economic outlook, analysts said.US benchmark West Texas Intermediate (WTI) for November delivery fell $1.03 to a two-year low of $80.75 a barrel in afternoon trade. Brent crude for November retreated 87 cents to $82.91, levels last seen four years ago.Both contracts have lost more than a fifth of their value since ...

US oil to retest support at $79.95 SINGAPORE: US oil is expected to retest support at $79.95 per barrel, with a good chance of breaking below this level and falling more towards $77.60.Wave pattern indicates oil is riding on a powerful wave C, the third wave of a three-wave cycle that developed from the June 20 high of $107.73. Support is at the 86.4 percent Fibonacci projection level of this wave, temporarily holding it from traveling towards the 100 percent level at ...

Oil prices tumble in Asia SINGAPORE: Oil prices resumed their downward spiral in Asian trade Thursday following another massive sell-off in equities as traders grow increasingly concerned about the global economic outlook, analysts said.US benchmark West Texas Intermediate (WTI) for November delivery fell 90 cents to a two-year low of $80.88 a barrel in late-morning trade. Brent crude for November retreated 43 cents to $83.35, levels last seen four years ago.Both contracts have lost more than a fifth of their ...


 



 
Index Closing Chg%
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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 20, 2014
Reserves $13.436 bln