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Brent, US oil fall on strong dollar, continue steep decline NEW YORK: Brent oil slipped below $97 a barrel on Tuesday, hit by dollar strength and ample supply, and U.S crude also fell as both benchmarks headed for the deepest quarterly drop in more than two years.The dollar surged to a four-year high against a basket of currencies and a two-year high against the euro, making oil more expensive for holders of other currencies.Brent for November delivery was down 97 cents at $96.23 per barrel at 11:06 a.m. EDT (1506 GMT). It has lost nearly 14 percent in the third quarter, its biggest quarterly drop since April-June 2012.U.S. crude dropped $1.35 to $93.22 a barrel and was also on track for its biggest quarterly fall since the second quarter of 2012."The dollar strength is pressuring oil across the board," said Andy Lebow, senior vice president at Jefferies Bache in New York, who also noted steady losses in U.S. gasoline futures ...


Oil prices turn higher LONDON: Global oil prices gained ground Tuesday on expectations of upbeat economic data from the United States, the world's biggest economy and largest consumer of crude.Brent North Sea crude for delivery in November rose 32 cents to stand at $97.51 a barrel in early afternoon deals in London.US benchmark West Texas Intermediate for November added 19 cents to $94.76 a barrel."Market participants will be keeping an eye on the release of the Chicago PMI (manufacturing) ...

Middle East crude DME Oman slips back in discount SINGAPORE: DME Oman slipped back into a discount against Dubai swaps in the Middle East crude market on Tuesday, down from the previous session's two-month high, in the last trading day of the month.A flurry of trades dominated the Platts window as traders square their positions. Seventeen Dubai partials were traded and Vitol will deliver a December-loading Oman cargo to Shell.For Oman, SK Energy sold four partials to Shell.Elsewhere, North Asian refiners have stepped up ...

UK gas prices rise as nearby demand outpaces supply LONDON: Prompt natural gas prices in Britain rose early on Tuesday as demand narrowly outstripped expected supply with a slight fall in Norwegian flows.Winter prices, however, were weaker, as hopes of a possible agreement between Russia and Ukraine in their dispute over gas supplies weighed on the market.Gas prices for delivery within the day were trading at 51.30 pence per therm at 0935 GMT, up 1.05 pence since their last close, and prices for delivery ...

Oil steadies above $97, supported by US, Chinese data LONDON: Brent oil steadied above $97 a barrel on Tuesday, supported by U.S. and Chinese economic data, but was still set for its deepest quarterly drop in more than two years because of strong supply and a surging dollar.Brent crude has slumped since June, when it hit this year's high of $115.71. Strong supply, a strong dollar and lacklustre economic data drove prices to a 26-month trough last week.Brent for November delivery was up 32 ...

Asia Pacific crude mixed; Alaskan crude headed for South Korea SINGAPORE: The Asia-Pacific crude market was mixed on Tuesday as Alaskan crude was on its was to South Korea, adding to a glut of crude in the region.South Korean refiner GS Caltex is set to receive 800,000 barrels of Alaskan crude on Oct. 10 after purchasing the oil on the spot market, a source at the company said. The deal marks the first U.S. export of Alaskan crude to South Korea in more than a ...

Thailand to raise domestic gas prices from Oct 1 BANGKOK: Thailand's military-backed government will raise prices of liquefied petroleum gas (LPG) for transportation by 0.62 baht/kg and those of natural gas for vehicles (NGV) by 1.00 baht ($0.03) from October 1, a senior energy ministry official said on Tuesday. The increases are part of closely-watched energy reforms aimed at restructuring domestic fuel prices from a highly-regulated system to a market-based one, the ministry's permanent secretary Areepong Bhoocha-oom told a news conference. Copyright Reuters, 2014 ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln