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Brent falls while US crude gains on easing stockbuild NEW YORK: Brent prices fell 2 percent on Monday pressured by European Central Bank bond-buying, while U.S. crude rose about 1 percent on a smaller-than-expected build in inventories at the key Cushing oil hub, leading to a narrowing gap between the two benchmarks.Brent's premium to U.S. crude, one of the biggest oil plays, narrowed to less than $9 a barrel, tripping up some traders who had bet the spread would expand this week after a recent 13-month high above $13.Brent was pressured as the ECB started buying bonds under its quantitative easing program, a move that implies a certain level of deflation, said Bob Yawger at Mizuho Securities in New York.U.S. crude was lifted after data from energy information provider Genscape suggested a smaller inventory build last week, compared with the previous week, at Cushing, Oklahoma, the delivery point for U.S. futures.Genscape estimated a 157,000-barrel rise in Cushing last week, ...

Oil rebounds from early drop on modest Cushing stock build NEW YORK: Oil prices rose on Monday, rebounding from early losses, after market data firm Genscape reported a modest stock build last week at the Cushing, Oklahoma delivery point for U.S. crude.A strong dollar, which hit 11-year highs against other major currencies, and worries about U.S. crude inventories reaching another record peak last week weighed on prices earlier.The front-month contract in U.S. West Texas Intermediate (WTI) crude jumped $1, or about 2 percent, to $50.61 ...
Oil falls in volatile trade on supply worries, dollar and Iran NEW YORK: Oil closed lower on Thursday in volatile trade, as a soaring dollar and the U.S. pursuit of an Iranian nuclear deal offset earlier gains from supply concerns in Libya and Iraq.Libya's declaration of force majeure on nearly a dozen of its oilfields due to security concerns and arson attacks by Islamic State militants on Iraqi oil wells helped prices climb during the European session.In New York trade, the market came off its highs ...
Global supply glut weighs on oil prices NEW YORK: Persistent worries about a global oversupply of crude oil weighed on the oil market Thursday after US inventories leaped to another record high this week.US benchmark West Texas Intermediate for delivery in April fell 77 cents to $50.76 a barrel on the New York Mercantile Exchange at the end of a volatile session in which WTI spent some time in positive territory.In London, Brent North Sea crude for April, the international benchmark, dipped ...
Oil up despite strong dollar, US stance on Iran NEW YORK: Oil rose in volatile trade on Thursday but analysts said the gains may not hold in the face of a strong dollar and the U.S. commitment to forge a nuclear deal with Iran.Concerns about deteriorating oil supplies from Libya and Iraq boosted crude prices even before the New York session.Without new bullish factors apparent in U.S. trading hours, the market stayed afloat on buying from those convinced it had hit bottom since the ...
US oil rises, Brent pares losses on Iran news NEW YORK: US oil futures rose on Wednesday and benchmark Brent pared losses as OPEC member Iran stressed that it opposed a timeline for a freeze on nuclear activities, news that helped crude rebound from an early slide tied to swelling U.S. stockpiles.Comments from Saudi Arabia's oil minister that prices ought to stabilize from the selloff of recent months also helped put a floor under prices, dealers said.Some drew encouragement from the Federal Reserve's Beige ...
US oil prices shrug off jump in crude stocks NEW YORK: US oil prices rallied Wednesday despite a larger-than expected jump in the country's crude stockpiles last week, which hit a new record high.US benchmark West Texas Intermediate (WTI) for delivery in April climbed $1.01 to $51.53 a barrel on the New York Mercantile Exchange.But in London Brent North Sea crude for April slipped 47 cents to $60.55 a barrel.The US Department of Energy (DoE) said commercial crude inventories jumped by 10.3 million barrels ...

 



 
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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%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln