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Brent crude price slides further NEW YORK: Oil prices in London continued their steady slide Tuesday amid a flush market and little upside to the current demand picture.But US prices were stable, allowing a further narrowing of the price gap between the two global benchmarks.London's main contract, Brent North Sea crude for October delivery, lost $1.04 to end at $99.16 a barrel, its lowest since April 2013.In New York, West Texas Intermediate (WTI) for October edged up nine cents to $92.75 a barrel.The easing of threats to supply in Iraq and Libya, and slightly alleviated tensions in Ukraine, removed some buying pressure from the market."Brent is continuing on the downward trajectory that it has followed since mid-June despite the geopolitical unrest -- after all, so far these risks have had little impact on the short-term supply situation," said Commerzbank analysts in a note."Indeed, the once-again fragile ceasefire appears to be giving rise for the first ...

Canada crude: Heavy crude grades hit 14-month high CALGARY: Canadian heavy crude prices touched a 14-month high on Monday, driven by improving market access, maintenance on oil sands projects cutting into supply and linefill on Enbridge Inc's new Flanagan South pipeline. Even so, some traders in Alberta's oil capital of Calgary were surprised by the extent of the gains in Western Canada Select (WCS), the de facto heavy crude benchmark. WCS for October delivery last traded at $13.90 per barrel below the West ...
US crude export prospects expand niche for oilfield stabilizers HOUSTON: Orders have surged for a type of oilfield equipment primarily used for to make a light variety of crude safe for pipelines, after a federal ruling signaled that the specialized units also offered a workaround for companies eager to export oil from the US shale boom. The units, known as stabilizers, process that type of crude, known as condensate, just enough to qualify it for export as a refined product, allowing oil producers to ...
Petrobras seeks director's testimony on alleged bribery SAO PAULO: Brazil's state-run oil company Petrobras has asked a federal judge for access to testimony from a jailed former director who, according to media reports, named dozens of politicians in an alleged kickback scheme. Petrobras said in a statement on Monday that as part of an internal investigation, it had also sent letters to companies cited in Brazilian media reports since Friday, seeking further information about allegations of their involvement.Copyright Reuters, 2014 ...
Oil drops on weak economic data from China, Japan NEW YORK: Oil prices dropped Monday with the European benchmark contract slipping below $100 a barrel on concerns about fragile demand, heavy supply and a strengthening US dollar.US benchmark West Texas Intermediate for October delivery fell 63 cents to $92.66 a barrel on the New York Mercantile Exchange, its lowest level since January.European benchmark Brent oil for October delivery declined 62 cents to $100.20 a barrel, after earlier falling below $100 a barrel for the ...
Brent, US oil fall again on weak data NEW YORK: Brent crude fell $1 to below $100 a barrel on Monday for the first time in more than a year as Chinese and U.S. data pointed to slower-than-expected growth in the world's top oil consumers, while U.S. crude also fell.Weak economic growth combined with ample supply has pushed oil prices down from a high for the year above $115 hit in June, complicating efforts by central banks to ward off deflation and putting ...
US gasoline prices continue to fall: Lundberg survey NEW YORK: The average price of a gallon of gasoline in the United States fell by 2 cents in the past two weeks as crude oil prices continued a broad decline, according to the Lundberg survey released on Sunday. Prices fell to an average of $3.46 per gallon for regular grade gasoline, according to the survey conducted Sept. 5. That extends a decline in prices to 11 weeks, survey publisher Trilby Lundberg said. "Over the ...

 



 
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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 $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln