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Oil prices surge on Nigeria supply worries NEW YORK: Oil prices rose solidly on Thursday for a second day running amid worries about curtailed supplies from Nigeria and more signs of strength in the US economy.New York's main contract, West Texas Intermediate (WTI) for delivery in May, rose $1.02 from Wednesday to $101.28 a barrel.Brent North Sea crude for May added 80 cents to stand at $107.83 a barrel in London trade.The gains came after Shell declared force majeure on deliveries of its crude from the Forcados terminal in Nigeria after a major export pipeline was sabotaged.Meanwhile, demand prospects in the United States looked better after fourth-quarter economic growth was increased to a 2.6 percent annual rate, with the upward revision coming from stronger consumer spending.Tighter crude supplies in the Cushing, Oklahoma. depot where WTI is delivered also underpinned the higher US prices."While geopolitical events will influence price of Brent, WTI prices will be guided by economic ...

Brent rises on Russia risk, Nigeria, Libya supply concerns NEW YORK: Brent crude oil futures rose on Tuesday on renewed geopolitical risk over Russia and supply disruptions in Nigeria and Libya, while US crude was pressured by a stronger US dollar. Major industrialized nations warned Moscow of tougher economic sanctions Monday if it goes beyond the seizure of Crimea. On Tuesday, US President Barack Obama said in a speech at The Hague that Russia's annexation of the Black Sea region was not a "done ...
US oil prices edge higher as key shipping route shut NEW YORK: US crude prices Monday edged higher after traffic was halted on a key petroleum-industry waterway in Houston due to an oil spill.US benchmark West Texas Intermediate for May delivery rose 14 cents to $99.60 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for May delivery slipped 11 cents to $106.81 a barrel on the Intercontinental Exchange in London.Investors were eyeing the shutdown of the Houston Ship Channel after a weekend ...
Brent crude falls on weak China data in volatile trading NEW YORK: Brent crude oil fell and US crude edged slightly higher in chopping trading on Monday as lackluster manufacturing data from the world's largest oil consumer was balanced by supply concerns over the Ukraine crisis and turmoil in Libya. China's manufacturing activity shrank in March, a preliminary private survey showed, pointing to slowing demand in the world's biggest energy consumer and adding to a string of weak indicators this year that have reinforced concerns ...
Exxon says Baytown refinery output cuts HOUSTON: Exxon Mobil Corp. said on Monday it has cut production at its 560,500-barrel per day (bpd) refinery in Baytown, Texas, as crude oil tankers couldn't supply the plant due to the closure on Saturday of the Houston Ship Channel. Exxon expects further cuts in production by mid-week due to the channel's closure, said company spokesman Nicolas Scinta. The company said it still expects to meet its contractual commitments.Copyright Reuters, 2014 ...
Oil edges higher on Russia, Libya supply concerns NEW YORK: Brent crude oil edged higher on Monday, as supply concerns over the Ukraine crisis and turmoil in Libya outweighed weaker-than-expected Chinese data that pointed to slowing demand in the world's biggest energy consumer. China's manufacturing activity shrank in March, a preliminary private survey showed, adding to a string of weak indicators this year that have reinforced concerns about a slowdown. The government aims to reduce the economy's dependence on exports, but investors are ...
Oil spill cleanup efforts continue off Texas Gulf shore TEXAS CITY: Four skimming boats surrounded a partially submerged barge on Sunday at the entrance to the Houston Ship Channel, working to clean up fuel spilled from the vessel into Galveston Bay after a Saturday collision with a cargo ship, according to a Reuters eyewitness.The Houston Ship Channel remained shut on Sunday to contain the environmental damage and prevent additional collisions, said Coast Guard Capt. Brian Penoyer, who commands the maritime safety service's units in ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln