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China June oil, copper, iron ore imports fall for 2nd month SHANGHAI: China's imports of crude oil, copper and iron ore fell for a second month in June as factors including unfavourable prices, economic uncertainties and tighter credit weighed on sentiment, but overall demand remained healthy.Arrivals of soybean and coal ticked up from month ago, although fresh orders of both have slowed to a trickle and imports are expected to fall from July onwards, traders said.Despite a slowing economy, China's import demand for commodities has generally confounded expectations of a decline.For the first half, crude imports were up 10 percent on a year ago, copper imports up 26 percent and iron ore up 19 percent.The resilience has been partly driven by Beijing's pledge to boost infrastructure investment, such as the rebuilding of shanty towns and rail construction, to stabilise growth. Demand for financing, where companies use imports as a way to access cheap loans, has also boosted orders.Looking ahead, traders and ...


Oil slips to 2-month low below $108 on slack US demand LONDON: Oil fell to a two-month low under $108 a barrel on Thursday, extending its longest losing streak in four years, pressured by weak gasoline demand in the United States and the prospect of rising supply from Libya.Data showed an increase in U.S. gasoline inventories last week, indicating demand was not as strong as expected during the peak summer driving season.Brent crude fell 31 cents to $107.97 a barrel by 0837 GMT, down for a ...

Oil prices down in Asia SINGAPORE: Oil prices fell in Asia Thursday following a mixed US supply report and easing concerns over tensions in the Middle East, analysts said.US benchmark West Texas Intermediate for August delivery declined 49 cents to $101.80 while Brent crude dipped 13 cents to $108.15 in afternoon trade."Oil tumbled as a rise in US gasoline inventories signalled weak demand, and a restart of a Libyan oilfield helped ease supply worries," Singapore's United Overseas Bank said in ...

Oil prices down in Asia SINGAPORE: Oil prices fell in Asia Thursday following a mixed US supply report and easing concerns over tensions in the Middle East, analysts said.US benchmark West Texas Intermediate for August delivery declined 31 cents to $101.98 while Brent crude dipped 11 cents to $108.17 in late-morning trade."Oil tumbled as a rise in US gasoline inventories signalled weak demand, and a restart of a Libyan oilfield helped ease supply worries," Singapore's United Overseas Bank said in ...

Oil prices continue slide NEW YORK: Global oil prices continued their slide from late-June peaks on Wednesday despite a sharper-than-expected drop in US crude inventories.Some analysts credited a low read on inflation in China pointing to slow economic growth for the fall.US benchmark West Texas Intermediate for August lost ground for the ninth straight session, shedding $1.11 to $102.29 a barrel compared with Tuesday's close.Brent North Sea for delivery in August fell 66 cents to close at $108.28 a ...

UK gas prices for immediate delivery edge up on short system LONDON: British wholesale natural gas prices for immediate delivery edged up on Wednesday as the system was slightly undersupplied but contracts for delivery the next day were down on the back of a more balanced outlook.Prices for delivery within the day were trading at 36.20 pence per therm at 0830 GMT on Wednesday, up 0.27 pence since their last settlement, while prices for delivery on Thursday were down 0.3 pence to 36 pence a therm."The ...

Oil at 1-month low below $109 as Libya supply returns LONDON: Brent crude oil traded at a one-month low under $109 a barrel on Wednesday after a Libyan oilfield restarted and supply worries faded, prompting traders to reduce long positions.Libya has restarted the 340,000-barrel-per-day (bpd) El Sharara oilfield after protesters ended a four-month strike. This could double Libya's current crude output.The government has also taken back control of the Ras Lanuf and Es Sider oil ports, ending an almost year-long occupation that reduced Libya's output ...


 



 
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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