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UK gas prices edge upwards on lower Norway flows LONDON: Natural gas prices in Britain rose slightly on Tuesday morning as colder weather and a drop in flows via the Langeled pipeline from Norway added to market tightness.Prices for within-day delivery were trading at 43 pence per therm at 0823 GMT, up 0.25 pence since their last settlement. Prices for delivery on Wednesday were up 0.1 pence at 42.9 pence.The market was seen 12.5 million cubic metres (mcm) undersupplied, with supply flows forecast at 151.1 million cubic metres (mcm) per day and demand seen at 163.6 mcm, National Grid data showed.Further along the curve, gas for September delivery was up 0.05 pence at 42.8 pence per therm.Temperatures on Tuesday were seen more than 3 degrees Celsius below seasonal averages, Thomson Reuters Point Carbon data showed.Analysts saw potential for higher prices because a rise in continental demand would reduce Norwegian gas available for Britain and is likely boost UK storage ...


Brent remains close to 14-month lows on weak demand LONDON: Brent crude oil prices on Tuesday were close to 14-month lows reached the previous day as weak demand and improving supplies weighed on the market, although global political risk still provided some support.Brent shed nearly $2 on Monday as investor worries over conflict in Iraq eased and as higher Libyan oil output added to already ample supplies.Brent crude oil prices for delivery in October were up 11 cents at $101.71 a barrel by 0940 ...

Britain's gas trading crown at risk as euro boosts Dutch appeal LONDON: Britain's dominance in European natural gas trading is under threat from a Dutch trading hub where volumes are soaring, buoyed in part by Europe's utility companies who prefer to hedge their deals in euros.Britain has been the region's leading gas trading hub since North Sea oil and gas discoveries in the 1970s made it Europe's main producer. This position was cemented when it liberalised its energy markets in the 1990s, meaning much of its ...

Oil prices rebound in Asia SINGAPORE: Oil prices rebounded in Asia Tuesday on bargain-hunting after tumbling on easing concerns about conflicts in Ukraine and Iraq, analysts said. US benchmark West Texas Intermediate (WTI) for September delivery rose 38 cents to $96.79, while Brent crude for October was up 23 cents to $101.83 in afternoon trade.WTI fell 94 cents in New York trade Monday, while Brent sank $1.93 in London to hit its lowest level since June 2013. "We are seeing ...

Oil prices rebound in Asia SINGAPORE: Oil prices rebounded in Asia Tuesday on bargain-hunting after tumbling on easing concerns about conflicts in Ukraine and Iraq, analysts said. US benchmark West Texas Intermediate (WTI) for September delivery rose 38 cents to $96.79 while Brent crude for October was up 22 cents to $101.82 in late-morning trade.WTI fell 94 cents in New York trade Monday, while Brent sank $1.93 in London to hit its lowest level since June 2013. "We are seeing ...

Oil prices fall on easing geopolitical fears NEW YORK: Oil prices slid lower on Monday on easing concerns about conflicts in Ukraine and Iraq and increased output by Libya.US benchmark West Texas Intermediate for delivery in September finished trade at $96.41 a barrel, shedding 94 cents from Friday's closing level.The key European futures contract, Brent North Sea crude for October, sank by $1.93 to settle at $101.60 a barrel, its lowest level since June 2013."The crude complex starts this week by being ...

Oil slumps to 14-month low in poor start to week LONDON: Oil prices dived to a 14-month low on Monday, spurred by worries over soft global crude demand, abundant supplies and easing concerns about conflicts in Ukraine and Iraq, dealers said.Brent North Sea crude for October sank as low as $101.16 per barrel, reaching a level last seen on June 26, 2013. It later stood at $101.23, down $2.30 from Friday's closing level.Also on Monday, US benchmark West Texas Intermediate (WTI) for delivery in September ...


 



 
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%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 25, 2014
Reserves $13.925 bln