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Oil drops on US inventories, budget fight NEW YORK CITY: Oil prices on Wednesday fell sharply after a weekly government report on US oil inventories showed a surprising build in stocks and the US budget impasse dragged on.US benchmark West Texas Intermediate for November delivery fell $1.88 to $101.61 a barrel on the New York Mercantile Exchange, the lowest close since early July. European oil benchmark Brent fell $1.10 to settle at $109.06 in London trade.US oil stocks rose by 6.8 million barrels for the week ending October 4, well above the 1.4 million barrel increase forecast by analysts in a Dow Jones Newswires survey.The week also saw a big drop in refinery use, with US plants processing at just 86 percent of capacity, down from 89 percent the prior week.Gene McGillian, a broker and analyst at Tradition Energy, said this week's build in crude oil supplies comes on the heels of a similar increase last week."The ...

US natural gas futures decline NEW YORK: US natural gas futures lost ground on Wednesday as investors took profits after strong gains earlier in the week and ahead of what should be another bearish weekly inventory report Thursday.Front-month gas prices rallied 6 percent in the previous two sessions, backed by recent Gulf of Mexico production cuts from Tropical Storm Karen and cooler forecasts for later next week that could boost demand for heating.Some analysts estimate that production losses as a ...
Oil edges higher, stays in range NEW YORK CITY: Oil prices on Tuesday edged higher as a US budget impasse continued and some production outages lingered in key Middle Eastern oil producers.US benchmark West Texas Intermediate for November delivery rose 46 cents to $103.49 a barrel on the New York Mercantile Exchange.European benchmark Brent oil put on 48 cents to reach $110.16 a barrel.Markets remain fixated on Washington, where Democrats and Republicans continue to bicker over a partial government shutdown and ...
US oil prices fall on restored output, Washington woes NEW YORK CITY: Oil prices declined on Monday as production resumed in the Gulf of Mexico following a tropical storm that had forced companies to suspend output for safety reasons.The market was also seeing pressure from the continued political paralysis over the budget in Washington, as the partial government shutdown entered the second week. US crude benchmark West Texas Intermediate for November delivery fell 81 cents to $103.03 a barrel on the New York Mercantile ...
US oil recoups losses after pipeline resumes NEW YORK: US oil futures pared losses on Monday in late morning trade after a report that a key pipeline delivering crude oil from Cushing, Oklahoma, had resumed shipping following an earlier outage.Operations of the Seaway oil pipeline, through which crude oil flows from Cushing to Gulf Coast refineries, resumed after a brief shutdown, industry intelligence firm Genscape reported. Cushing is the delivery point for the US oil futures contract.US crude oil was last trading ...
US Gulf of Mexico oil work starts to resume supply HOUSTON: Oil and gas production in the US Gulf of Mexico was starting to ramp up toward normal on Sunday after Tropical Storm Karen lost potency off the Gulf Coast, officials cancelled evacuation orders, and energy companies started to restaff offshore platforms.Storm warnings had prompted energy firms to shut in nearly two-thirds of oil output and half of natural gas production as of Saturday, but by that time the weather system was already weakening and ...
US gasoline prices dip most in last 2 weeks since 2012 NEW YORK: The average price for a gallon of gasoline in the United States fell 13.78 cents in the last two weeks, as refiners continued to pass on lower crude oil prices, according to the Lundberg survey released on Sunday.The average price of just over $3.38 per gallon was down about 45 cents from a year ago, based on the Oct. 4 survey of some 2,500 retail stations in the lower 48 states, and the ...

 



 
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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
WeeklyApril 16, 2015
Reserves $16.818 bln