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Oil eases as big powers negotiate with Iran LONDON: Oil prices slipped on Monday as officials from Iran and six world powers discussed a possible deal over Tehran's nuclear programme that could bring an end to sanctions and allow an increase in Iranian oil exports.The two sides have until the end of Tuesday to come up with an agreement at talks in Lausanne, Switzerland.Officials close to the talks have said progress has been made and many investors believe a deal is in the making. Few expect the talks to end without some sort of agreement."Regarding Iran, there are two possible outcomes: a framework deal or an extended deadline," Bjarne Schieldrop, chief commodities analyst at SEB Markets in Oslo, told the Reuters Global Oil Forum.Brent crude was down 5 cents at $56.36 a barrel by 1345 GMT. U.S. crude was down 10 cents at $48.77.Oil markets are well supplied and recent figures show global production outstripping demand by around ...


Oil prices drop as oversupply fears outweigh Yemen LONDON: Oil sank Monday as an oversupplied market offset concerns over unrest in the crude-rich Middle East, where Saudi-led warplanes have struck rebel targets in Yemen. Brent North Sea crude for delivery in May slid $1.04 to $55.39 a barrel in London afternoon deals.US benchmark West Texas Intermediate (WTI) for May shed $1.10 to $47.77 a barrel."Crude oil prices remain under pressure," said Myrto Sokou, senior energy analyst at the Sucden Financial brokerage in London."The ...

Middle East Crude-Iraq loading delays support SINGAPORE: The Middle East crude market strengthened after poor weather delayed loadings at Iraq's southern terminal, traders said on Monday.Tankers have waited to load Iraqi Basra Light for several weeks, creating tightness in the market, traders said. Last month, poor weather also caused delays to shipments from Iraq.Spot premiums for Iraqi Basra Light were likely to have improved in a tender by Indian Oil Corp (IOC) seeking 2 million barrels of the grade loading in ...

Asia-Pacific Crude-Refinery demand supports SINGAPORE: The Asia-Pacific crude market continued to draw support from robust refinery demand even as some prepare for peak maintenance season.Complex refining margins in the Singapore hub have averaged more than $9 a barrel this month.Russia's Rosneft sold a cargo of May loading Sokol crude in a tender at about $4.70-$4.90 a barrel above Dubai quotes, a trader said, higher than the previous month. The buyer was not known, and the deal could not be ...

Oil prices drop on possible Iran deal, dollar LONDON: Oil prices fell on Monday as officials from Iran and six world powers discussed a possible deal over Tehran's nuclear programme that could bring an end to sanctions and allow an increase in Iranian oil exports.The two sides have until the end of Tuesday to come up with an agreement at talks in Lausanne, Switzerland.Officials close to the talks have said progress has been made and many investors believe a deal is in the ...

UK gas prices decline due to increased supply LONDON: Prompt natural gas prices in Britain were mostly lower on Monday morning as increased flows from domestic production and from Norway resulted in oversupply.Gas prices for immediate delivery were down by 0.75 pence to 47.40 pence per therm at 0735 GMT.National Grid data showed the system was expected to be around 8 million cubic metres (mcm) oversupplied, with supply flows at around 256 mcm per day and demand forecast at around 248 mcm.Flows from ...

Oil prices drop on weak demand, potential Iran deal SINGAPORE: Oil prices fell on Monday as traders focused on whether Iran and six world powers would reach a deal that could add fuel to an already oversupplied market if sanctions against Tehran are lifted.The two sides are trying to reach an agreement in nuclear negotiations by a Tuesday deadline."Any relaxation of Iran oil sanctions could see increased exports adding to swelling global supplies and further pressuring prices," ANZ said.Brent crude futures were down 42 ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln