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Oil falls as rising US inventories continue to weigh NEW YORK: Crude oil futures fell on Thursday, as rising inventories in the United States pressured both Brent and U.S. contracts and countered expectations for recovering demand.Brent losses were tempered by those expectations for improving global demand and geopolitical concerns about energy supplies from Libya and Russia.Brent April crude was down 65 cents at $60.98 at 12:19 EST (1719 GMT), off a $62.63 intraday peak. On Wednesday, Brent surged 5 percent.U.S. April crude was down $1.64 at $49.35, following a gain of more than 3 percent the previous session.Brent's premium to U.S. crude increased to $12.06 intraday on Thursday, the widest since January 2014.Helping limit Brent losses and boosting its premium to U.S. crude was the growing number of OPEC officials making cautiously hopeful comments on the outlook for demand for petroleum.Both crude contracts rallied on Wednesday, boosted by Saudi oil minister Ali al-Naimi saying demand was growing. Earlier in ...

US crude futures extend losses as ample supply pressures NEW YORK: US crude futures extended losses to more than 6 percent and fell more than $3 a barrel on Thursday in the last hour of trading ahead of settlement.Ample global supply and increasing U.S. commercial inventories weighed on prices after expectations for better demand going forward lifted prices on Wednesday, traders and analysts said.U.S. April crude was down $2.71, or 5.3 percent at $48.28 a barrel at 2:25 p.m. EST (1925 GMT), having slumped ...
US Gulf Coast crude stock at highest seasonal record last week NEW YORK: US Gulf Coast crude stockpiles rose to 214.4 million barrels last week, the highest seasonal total on record, according to figures released Wednesday by the US Energy Information Administration. US East Coast distillate stockpiles fell to 31.8 million barrels last week, the lowest seasonal figure since last year, EIA data shows. Copyright Reuters, 2015 ...
Lower gasoline prices dampen US consumer inflation WASHINGTON: US consumer prices in January posted their biggest drop since 2008 as gasoline prices continued to tumble and underlying inflation rose modestly, which could allow a cautious Federal Reserve more room to hold off on raising interest rates.Other data on Thursday showed a rebound in business investment spending plans, but probably not enough to change expectations of moderate economic growth in the first quarter. "It will be some time before the Fed gets the ...
Brent crude up 5pc as Saudi sees improved demand for oil NEW YORK: Brent crude oil futures surged 5 percent on Wednesday, after Saudi Arabia's oil minister said oil demand was growing and data showed Chinese factories were producing more than expected.Falling refined products inventories reported by the government helped lift U.S. crude and countered data showing a larger-than-expected U.S. crude inventory build.Brent April crude rose $2.97 to settle at at $61.63 a barrel. U.S. April crude rose $1.71 to settle at $50.99."The report is relatively ...
Oil slips as traders expect new rise in US inventories NEW YORK: Oil prices slipped Tuesday as traders estimated a key report will show another increase in US crude inventories that already are at record levels, exacerbating the global oversupply.US benchmark West Texas Intermediate for April delivery fell 17 cents, closing at $49.28 a barrel.In London, Brent North Sea crude for April, the global benchmark, closed at $58.66 a barrel, down 24 cents from Monday's closing level.Both futures contract had fallen sharply on Monday and ...
Oil turns lower on expectations of crude oil inventory rise NEW YORK: Crude oil futures fell on Tuesday as expectations that this week's reports will show U.S. crude inventories rose again countered supportive news of Libyan oilfields being shut.Prices faltered after being lifted by news the Sarir and the nearby oilfields in Libya were shut by a power cut, dealing another blow to exports from the embattled OPEC member nation.Greece's euro zone partners approved the Greek government's reform plans, also lending support to oil, but ...

 



 
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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