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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 first time since June 2013.Matt Smith, analyst at Schneider Electric, cited weak economic data from China and Japan, two major oil consumers, as "not the best start to the week on the economic data front." China showed a surprising drop of 2.4 percent in imports, while Japan said its economy shrank 1.8 percent on-quarter in April-June, worse than the previously estimated contraction of 1.7 percent.Analysts also cited reports that suggest lofty supplies of oil remain ...

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 ...
Petrobras Pasadena TX refinery shuts gasoline unit: filing HOUSTON: Petrobras SA's 100,000 barrel per day (bpd) Pasadena, Texas, refinery shut its gasoline-producing fluidic catalytic cracking unit on Sunday due to a compressor malfunction, according to a notice the refinery filed with Texas pollution regulators. A governor in a compressor control system on the 56,000 bpd FCCU malfunctioned, requiring operators to remove feed from the unit and shut it down, according to the notice filed with the Texas Commission on Environmental Quality.An estimated 14,000 ...
Oil prices sag after disappointing US jobs data NEW YORK: Oil prices dropped Friday, pulled lower by a disappointing US employment report that suggested weaker economic growth.US benchmark West Texas Intermediate (WTI) for October delivery slid $1.16 to $93.29 a barrel.In London, Brent North Sea crude for October dropped $1.01 to $100.82 per barrel.Hopes that the US would turn in a seventh straight month of strong jobs generation were dashed when August's number came in at just 142,000 net new positions, 80,000 less ...
US July crude oil exports as much as 400,903 bpd in July NEW YORK: US crude oil exports reached as much as 400,903 barrels per day in July, according to data from the U.S. Census Bureau released on Thursday.The higher numbers in July come on the heels of exports of crude oil from U.S. shores in June reaching 396,000 bpd, the highest on record since 1957.Exports to Canada were as much as 372,701 bpd, Census data showed. Exports to Singapore were 2,840 bpd with exports to Switzerland ...
Oil gains more than $2, Brent rebounds from 16-month low NEW YORK: Crude oil prices jumped by more than $2 a barrel on Wednesday off multimonth lows as the prospect of peace talks between Ukraine and Russia combined with strong US economic data to raise demand expectations. New orders for US factory goods jumped in July and automobile sales in August were unexpectedly robust, offering further signs of strength in the manufacturing sector. President Vladimir Putin outlined plans for a ceasefire in eastern Ukraine on ...


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Foreign Debt $61.805bn
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WeeklySeptember 25, 2014
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