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Oil prices down as supply fears fade` SINGAPORE: Oil prices edged lower in Asia Thursday on fading fears that conflicts in crude producers Libya and Iraq could result in a major supply disruption, analysts said. US benchmark West Texas Intermediate for October delivery was down 27 cents at $93.18 while Brent for October eased 26 cents to $102.02 in afternoon trade."Benchmark prices weakened further as there has been no disruptions in crude supply despite ongoing crises in Iraq and Libya," said Sanjeev Gupta, head of the oil and gas practice at consultancy EY. In Iraq, the OPEC cartel's number-two producer, US air strikes that began on August 8 have pinned back the Islamic State group who have overrun large swathes of the country's north and west as well as parts of Syria.US President Barack Obama on Wednesday demanded the world take firm action against the "cancer" of militant extremism in Iraq and Syria, a day after the ...


Brent drops below $102, near 14-month low, on China concerns SINGAPORE: Brent slipped below $102 a barrel on Thursday, near a 14-month low hit earlier this week, as concerns over excess oil supply and slowing demand weighed on prices. A survey on China's factory activity showed that growth in the sector slowed to a three-month low in August, adding to concerns about softness in the Chinese economy that could depress oil use in the world's second-largest oil consumer."This is a figure which indicates that growth ...

Brent edges down to $102, near 14-month low, on China concerns SINGAPORE: Brent edged down toward $102 a barrel on Thursday, near the 14-month low hit earlier this week, as concerns over excess oil supply and slowing demand weighed on prices. A survey on China's factory activity showed that growth in the sector slowed to a three-month low in August, adding to concerns about softness in the Chinese economy that could depress oil use in the world's second-largest oil consumer. "This is a figure which indicates ...

Oil prices down on fading supply fears SINGAPORE: Oil prices edged lower in Asia Thursday on fading fears that conflicts in crude producers Libya and Iraq could result in a major supply disruption, analysts said. US benchmark West Texas Intermediate for October delivery was down six cents at $93.39 while Brent for October eased 24 cents to $102.04 in late-morning trade."Benchmark prices weakened further as there has been no disruptions in crude supply despite ongoing crises in Iraq and Libya," said Sanjeev ...

Oil prices advance on signs of stronger US demand NEW YORK: Global oil prices rebounded on Wednesday from multi-month lows after a surprisingly big drop in US oil inventories.US benchmark West Texas Intermediate for September delivery jumped $1.59 to $96.07 a barrel on the New York Mercantile Exchange, recovering from a seven-month low hit Tuesday.European benchmark Brent oil for October delivery gained 72 cents to close at $102.28 a barrel in London, rallying from the 14-month low the day before."Crude stocks dropped a lot ...

Oil prices advance on signs of strong US demand LONDON: Global oil prices rebounded Wednesday from the previous day's multi-month lows, as dealers digested signs of strengthening crude demand in top consumer the United States.Gains were capped however by investor caution ahead of the release of minutes from the US Federal Reserve's July monetary policy meeting.In late afternoon trade, Brent North Sea crude for October delivery advanced 22 cents to $101.78 a barrel, one day after hitting a 14-month low on easing geopolitical tensions.New ...

Oil prices rally from recent losses LONDON: Oil prices rebounded on Wednesday from the previous day's multi-month lows, as dealers awaited the latest update on crude reserves in top consumer the United States.Gains were capped however by investor caution ahead of the release of minutes from the US Federal Reserve's July monetary policy meeting.In midday deals, Brent North Sea crude for October delivery advanced 40 cents to $101.96 a barrel, one day after hitting a 14-month low on easing geopolitical tensions.New ...


 



 
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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 28, 2014
Reserves $13.582 bln