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Oil prices fall after another rise US inventories NEW YORK: Oil prices fell Thursday after the US government reported crude inventories increased again to record highs, adding to concerns about the global supply glut.US benchmark West Texas Intermediate (WTI) for delivery in March dropped 98 cents to close at $51.16 a barrel, after shedding nearly $1.40 on Wednesday.In London, Brent North Sea crude for April delivery settled at $60.21 a barrel, down 32 cents from the prior trading session.WTI futures dropped sharply in early trade, sinking below $50, but erased much of the losses after the Department of Energy reported US crude inventories increased by nearly eight million barrels in the week through February 13."We obviously saw this coming as we had a large (price) decline yesterday, so a part of it was already priced in and the market is now trying to find a fair value," said Carl Larry of Frost & Sullivan.Even though crude inventories were ...

Oil down but sharply off early loss; stock build less than feared NEW YORK: Oil prices fell for a second day on Thursday, after the U.S. government reported another record high in crude inventories, but prices bounced sharply off session lows on relief the builds were less than an industry group had estimated.Prices also retraced losses as investors covered more short positions in U.S. crude futures a day ahead of the expiry of the front-month contract.U.S. commercial crude oil inventories rose 7.7 million barrels last week to ...
Oil recoups most early losses as US stock build less than feared NEW YORK: Oil prices recovered much of their early losses Thursday after weekly stock builds turned out to be less than some had feared, although the U.S. government reported another record high in crude inventories.Traders said U.S. crude futures were also seeing short-covering ahead of the expiry of its front-month contract.Brent was down 20 cents at $60.33 a barrel by 2:22 p.m. EST (1818 GMT), after falling as low as $57.80 earlier. On Tuesday, it ...
Oil pares losses as US stock build less than feared NEW YORK: Oil prices fell on Thursday after the US government reported record high crude inventories, but the market still came off its lows as weekly stock builds turned out to be less than feared.U.S. commercial crude oil inventories rose 7.7 million to a record 425.6 million barrels last week, the sixth straight week levels reached seasonal record highs, the Energy Information Administration (EIA) said.The build was more than double the 3.2 million barrels expected ...
US crude prices fall sharply as inventory grows TOKYO: US oil futures tumbled more than 3 percent on Thursday to a one-week low around $50 a barrel after data showed a surprisingly sharp build in US crude inventories.US crude for March delivery fell to a session low of $50.23 a barrel, down almost $2 from Wednesday's settlement. The contract was trading down $1.51 at $50.63 by 0006 GMT, after settling down $1.39 on Wednesday.London Brent crude for April delivery was yet to trade, ...
Brent tumbles below $60, supply glut raises doubts on rally NEW YORK: The comeback rally in oil paused on Wednesday, with Brent crude falling below $60, as traders took stock of the market's blistering 35 percent gain over the past month despite mounting U.S. supplies.Oil prices were down from open to close, with celebrations for the Chinese Lunar New Year that stretches into the weekend thinning trade volumes in Asia.The selloff accelerated by afternoon following a fire and explosion at a gasoline processing unit in ...
Oil price fall leads to first TSX slip in 6 sessions TORONTO: Canada's main stock index slipped on Wednesday, its first decline in six sessions, as shares of oil and gas companies were weighed down by the stalling momentum of a recent rally in the price of oil.Investors took some comfort from the minutes of the U.S. Federal Reserve's last meeting, which showed policymakers were concerned about raising interest rates too quickly."If the (U.S.) dollar backs off a little bit and crude oil continues to gain ...

 



 
Index Closing Chg%
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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%
MonthlyDecember
Trade Balance $-1.703 bln
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Imports $3.859 bln
WeeklyFebruary 26, 2015
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