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Oil retreats as rising US inventories continue to weigh NEW YORK: Crude oil futures fell sharply on Thursday as rising inventories in the United States pressured both Brent and U.S. contracts and countered expectations for recovering demand.While Brent losses were tempered by those expectations for improving global demand and geopolitical concerns about energy supplies from Libya and Russia, U.S. crude losses more than wiped out Wednesday's gains.Brent April crude fell $1.58, or 2.56 percent, to settle at $60.05 a barrel, off a $62.63 intraday peak. On Wednesday, Brent surged 5 percent.U.S. April crude fell $2.82, or 5.53 percent, to settle at $48.17, after rallying 3.47 percent on Wednesday.Brent's premium to U.S. crude on Thursday increased to $12.06, the widest spread since January 2014.Both crude contracts rallied on Wednesday after Saudi oil minister Ali al-Naimi said demand was growing. Earlier in the week, a Gulf OPEC delegate predicted stronger demand growth in the second half of 2015.Brent prices collapsed after ...

Oil tumbles on revived oversupply worries NEW YORK: World oil prices fell sharply Thursday as the market appeared to do a double-take on the US oil inventories report showing US crude stockpiles hit a fresh record.The US benchmark, West Texas Intermediate for April, dived $2.82 to close at $48.17 a barrel on the New York Mercantile Exchange, more than wiping out the prior day's rebound.European benchmark Brent North Sea crude for April delivery sank $1.58 to $60.05 a barrel in London.Both ...
Oil falls as rising US inventories continue to weigh NEW YORK: Crude oil futures fell on Thursday, as rising inventories in the United States pressured both Brent and U.S. contracts and countered expectations for recovering demand.Brent losses were tempered by those expectations for improving global demand and geopolitical concerns about energy supplies from Libya and Russia.Brent April crude was down 65 cents at $60.98 at 12:19 EST (1719 GMT), off a $62.63 intraday peak. On Wednesday, Brent surged 5 percent.U.S. April crude was down ...
US crude futures extend losses as ample supply pressures NEW YORK: US crude futures extended losses to more than 6 percent and fell more than $3 a barrel on Thursday in the last hour of trading ahead of settlement.Ample global supply and increasing U.S. commercial inventories weighed on prices after expectations for better demand going forward lifted prices on Wednesday, traders and analysts said.U.S. April crude was down $2.71, or 5.3 percent at $48.28 a barrel at 2:25 p.m. EST (1925 GMT), having slumped ...
US Gulf Coast crude stock at highest seasonal record last week NEW YORK: US Gulf Coast crude stockpiles rose to 214.4 million barrels last week, the highest seasonal total on record, according to figures released Wednesday by the US Energy Information Administration. US East Coast distillate stockpiles fell to 31.8 million barrels last week, the lowest seasonal figure since last year, EIA data shows. Copyright Reuters, 2015 ...
Lower gasoline prices dampen US consumer inflation WASHINGTON: US consumer prices in January posted their biggest drop since 2008 as gasoline prices continued to tumble and underlying inflation rose modestly, which could allow a cautious Federal Reserve more room to hold off on raising interest rates.Other data on Thursday showed a rebound in business investment spending plans, but probably not enough to change expectations of moderate economic growth in the first quarter. "It will be some time before the Fed gets the ...
Brent crude up 5pc as Saudi sees improved demand for oil NEW YORK: Brent crude oil futures surged 5 percent on Wednesday, after Saudi Arabia's oil minister said oil demand was growing and data showed Chinese factories were producing more than expected.Falling refined products inventories reported by the government helped lift U.S. crude and countered data showing a larger-than-expected U.S. crude inventory build.Brent April crude rose $2.97 to settle at at $61.63 a barrel. U.S. April crude rose $1.71 to settle at $50.99."The report is relatively ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln