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Oil prices plunge as Libyan supplies ramp up NEW YORK: Global oil prices dived on Friday on the prospect of Libyan oil production ramping up after rebels lifted blockades on shipping terminals.US benchmark West Texas Intermediate for August plunged $2.10 to close at $100.83 a barrel, its lowest level since May 12.Brent North Sea for delivery in August slid $2.01 to finish at $106.66 a barrel in London trade. It was the European benchmark futures contract's lowest close since April 7."The petroleum markets are under ongoing selling pressure as traders react to the decline in price by selling more, even in the absence of fresh compelling bearish news," said Tim Evans of Citi Futures.Evans pointed to the market's continued focus on the recovery in Libyan crude oil production. But he noted that most of the news this week "has just been confirmation that export terminals have reopened and that output is gradually rising as the result of the ...

Oil prices continue slide NEW YORK: Global oil prices continued their slide from late-June peaks on Wednesday despite a sharper-than-expected drop in US crude inventories.Some analysts credited a low read on inflation in China pointing to slow economic growth for the fall.US benchmark West Texas Intermediate for August lost ground for the ninth straight session, shedding $1.11 to $102.29 a barrel compared with Tuesday's close.Brent North Sea for delivery in August fell 66 cents to close at $108.28 a ...
Oil prices extend losses as supply worries ease NEW YORK: Oil prices extended their losing streak Tuesday as concerns eased about supply disruptions from the Middle East, with Libya exports set to resume and Iraq unrest not yet affecting exports.US benchmark West Texas Intermediate for August fell 13 cents to $103.40 a barrel on the New York Mercantile Exchange, its eighth straight day of decline.Brent North Sea for delivery in August lost $1.30 to close at $108.94 a barrel in London trade."The Brent ...
Oil prices dip as Middle East supply worries ebb NEW YORK: World oil prices on Monday fell as traders eyed the imminent resumption of Libyan crude exports and as Iraqi output remained unaffected by ongoing fighting in the country.US benchmark West Texas Intermediate for August delivery fell 53 cents to $103.53 a barrel on the New York Mercantile Exchange, the seventh straight decline, pushing the commodity to the lowest closing price since June 6.European benchmark Brent oil for delivery in August shed 40 cents ...
Oil prices fall on Libya output prospect NEW YORK: Oil prices tumbled Wednesday on the prospect of higher Libyan output joining ample global supplies and as traders continued to book profits from a sharp rally a week ago.The latest weekly US petroleum report showed a larger-than-expected decline in crude inventories that nevertheless remained close to record highs.US benchmark West Texas Intermediate for August slid lower for the fifth straight trading session, losing 86 cents, or 0.8 percent, to close at $104.91 a ...
Oil prices ease; rebels hit Colombian production NEW YORK: Global oil prices slipped Monday amid new signs of higher OPEC production but the market was still cautious amid ongoing Iraq violence and a rebel attack on a Colombian pipeline.US benchmark West Texas Intermediate for August delivery dipped 37 cents to $105.37 a barrel, with losses capped partly by stubborn Iraq concerns.In London deals, Brent crude for delivery in August sank 94 cents to $112.36 a barrel from Friday's close.Ongoing tensions in Iraq ...
Oil prices mixed as Iraq keeps markets on edge NEW YORK: Global oil prices traded in mixed fashion ahead of the weekend Friday, with Brent slightly higher as traders watched developments in the jihadist-led offensive in Iraqi, OPEC's second-largest oil producer.US benchmark West Texas Intermediate for August settled 10 cents lower at $105.74 a barrel on the New York Mercantile Exchange.The European benchmark, Brent crude for delivery in August, rose nine cents to close at $113.30 a barrel in London."We see something of an ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln