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Oil prices advance on signs of stronger US demand NEW YORK: Global oil prices rebounded on Wednesday from multi-month lows after a surprisingly big drop in US oil inventories.US benchmark West Texas Intermediate for September delivery jumped $1.59 to $96.07 a barrel on the New York Mercantile Exchange, recovering from a seven-month low hit Tuesday.European benchmark Brent oil for October delivery gained 72 cents to close at $102.28 a barrel in London, rallying from the 14-month low the day before."Crude stocks dropped a lot more than expected," said Bart Melek, head of commodity strategy at TD Securities. "The market is looking at maybe a demand which is a little bit higher."Melek said the energy inventory data, coupled with commentary in Wednesday's US Federal Reserve meeting minutes on the jobs market, suggest "the US economy may be doing okay in terms of growth." Data from the US Energy Information Administration said crude oil stockpiles fell 4.5 million barrels in ...

Oil prices fall, US contract hits January low NEW YORK: World oil prices fell Tuesday , with the New York benchmark below $95 a barrel for the first time since January ahead of the weekly US inventories report and the contract's expiration.West Texas Intermediate (WTI) for delivery in September tumbled $1.93, closing at $94.48 a barrel.In London Brent North Sea crude for October delivery, the key European futures contract, slipped a modest four cents to finish at $101.56 a barrel.Earlier in the session ...
Brent falls to 14-month low on improving global supply NEW YORK: Brent crude prices fell to a 14-month low on Tuesday, giving up early gains as recovering Libyan output, sustained Iraqi production and weak demand offset concerns about threats to supply."It is still under pressure from a combination of factors: plentiful supply, a lack of supply outages and weak refinery demand. In addition, the continued withdrawal of speculative financial investors is exacerbating the downward movement," Commerzbank said in a research note on Tuesday.Brent crude ...
Oil prices fall on easing geopolitical fears NEW YORK: Oil prices slid lower on Monday on easing concerns about conflicts in Ukraine and Iraq and increased output by Libya.US benchmark West Texas Intermediate for delivery in September finished trade at $96.41 a barrel, shedding 94 cents from Friday's closing level.The key European futures contract, Brent North Sea crude for October, sank by $1.93 to settle at $101.60 a barrel, its lowest level since June 2013."The crude complex starts this week by being ...
Oil surges on news of Ukraine attack on Russian convoy NEW YORK: Oil prices rebounded Friday amid mounting Ukraine geopolitical tensions after Kiev said Ukrainian forces had destroyed part of a Russian military convoy that entered its territory.US benchmark West Texas Intermediate for delivery in September, which had lost more than $2 Thursday, advanced $1.77 to close at $97.35 a barrel on the New York Mercantile Exchange. Brent North Sea crude for October jumped $1.46 to $103.53 a barrel in London trade. The European benchmark ...
Oil jumps up after Ukraine says hit Russian armored force NEW YORK: Brent and US crude futures jumped more than $1 a barrel on Friday on news that Ukraine forces engaged a Russian armored column on Ukrainian soil. Ukrainian artillery destroyed a "significant" part of a Russian armoured column that crossed into Ukraine during the night, President Petro Poroshenko told British Prime Minister David Cameron, according to the presidential website. Russia, a major oil and natural gas producer, denied its forces crossed into Ukraine and ...
Oil prices rise; WTI up despite gain in US supplies NEW YORK: Oil prices pushed higher on Wednesday, as investors shrugged off a surprise increase in US commercial crude-oil stockpiles.US benchmark West Texas Intermediate (WTI) for September delivery rose 22 cents, finishing at $97.59 a barrel on the New York Mercantile Exchange.The main European futures contract, Brent North Sea crude oil for September, surged $1.26 higher to close at $104.28 a barrel in London trade, rebounding from a 13-month low the prior day.Both WTI and ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
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WeeklyOctober 23, 2014
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