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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 for delivery in October was down 25 cents at $101.35 a barrel at 11:18 a.m. EDT (1418 GMT), after falling to $101.07, the lowest since June 2013, the same month Brent prices were last below $100 a barrel.U.S. front-month September crude reversed and fell back a day ahead of its contract expiration and the U.S. October also pushed lower after giving up early gains.U.S. September crude was down 52 cents at $95.89 a barrel ...

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 ...
Oil prices fall on weak demand forecast NEW YORK: Oil prices dropped Tuesday with the main European benchmark contract sinking to a 13-month low after the International Energy Agency slashed its demand outlook for 2014 and 2015.US benchmark West Texas Intermediate (WTI) for September delivery fell 71 cents to $97.37 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for delivery in September tumbled $1.66 to $103.02 a barrel, its lowest closing price since July 1, 2013. Pointing to slower ...
Brazil may raise fuel prices by up to 6pc BRASILIA: The Brazilian government could increase domestic fuel prices at refineries by up to 6 percent after the October presidential election, a senior government source told Reuters on Monday. The official, who asked not to be named because of the sensitivity of the issue, said an increase of between 5.5 percent and 6 percent is a preliminary calculation and aims to help state-run oil company Petroleo Brasileiro, known as Petrobras. President Dilma Rousseff, who is ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln