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South Korea June Iran oil import up; Jan-June import down SEOUL: South Korea's imports of crude from Iran rose by 7 percent in June from a year ago but its oil shipments from the OPEC member in the first half of this year fell 11 percent year on year, or below last year's daily average, customs data showed on Tuesday. South Korea imported 604,402 tonnes of Iranian crude oil last month, or 147,676 barrels per day (bpd), higher than 284,327 tonnes a month ago and 565,444 tonnes a year ago, the preliminary customs data showed. The country's Iran oil intake in January-June of this year, however, marked 3.1 million tonnes or 126,145 bpd, meaning 11 percent lower than 3.5 million tonnes or 141,839 bpd imported a year earlier, and also 6 percent less than last year's average of 134,000 bpd, according to the data and Reuters calculation. Iranian oil imports by Asia's fourth-largest economy fluctuate monthly as one of its ...


Oil prices tick higher NEW YORK: Global oil prices rose on Monday as turmoil in Libya clouded expectations of a return of the country's crude supplies to the market.US benchmark West Texas Intermediate for August finished the session at $100.91 a barrel, a slight gain of eight cents from Friday's close.Brent North Sea for delivery in August rose 32 cents to settle at $106.98 a barrel in London trade.Commerzbank analysts, in a research note, highlighted renewed protests in Libya ...

Brent holds above $106 as Libya, Iraq violence renews supply worries SINGAPORE: Brent crude held steady above $106 a barrel on Monday, hovering just off three-month lows, as the potential for renewed supply disruptions put a floor under prices that have been tumbling since the last week of June.Brent lost $2.01 on Friday to settle at $106.66 a barrel, the lowest finish since April 7. The benchmark lost about 3.6 percent last week, the steepest weekly fall since early January.But the market could see a strong ...

Oil at 3-month low near $106 as supply fears ease LONDON: Brent crude oil slipped towards $106 a barrel on Monday, its lowest for three months, depressed by signs of improving supply from key producers and weak demand in some consuming centres.The North Sea benchmark peaked above $115 last month as an Islamist insurgency swept across western Iraq, taking control of large parts of the oil-producing country including its biggest refinery.The insurgency now holds large swathes of Iraq but is hundreds of kilometres from the ...

UK gas prices rise on reduced domestic gas production LONDON: Wholesale natural gas prices in Britain rose on Monday morning due to undersupply caused by a drop in the amount of gas received by the St Fergus gas terminal from the UK Continental Shelf (UKCS).Prices for delivery on Tuesday were trading at 36.50 pence per therm by 0837 GMT, 2.10 pence, or 6 percent higher, than the previous settlement.Prices for immediate delivery were 0.70 pence higher at 36.50 pence per therm.Britain's gas system was ...

Brent rises to near $107 as Libya, Iraq violence renews supply worries SINGAPORE: Brent crude bounced off of three-month lows on Monday to near $107 a barrel as the potential for renewed supply disruptions put a floor under prices that have been tumbling since the last week of June.Brent lost $2.01 on Friday to settle at $106.66 a barrel, the lowest finish since April 7. The benchmark lost about 3.6 percent last week, the steepest weekly fall since early January. But the market could see a strong ...

Brent oil to test support at $105.98 SINGAPORE: Brent oil may slide to $105.98 per barrel, following its break below a support at $107.84.The support was provided by the 61.8 percent Fibonacci retracement on the rise from the Nov. 8, 2013 low of $102.98 to the June 19 high of $115.71.The next support will be at $105.98, the 76.4 percent retracement.It is not very clear if oil could break $105.98 and fall more towards $102.98. However, the big loss on July 11 ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln