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US oil rises on weak dollar, sluggish China weighs on Brent NEW YORK: US oil prices rose on Monday as a weak US dollar prompted buying, while Brent prices fell as concerns about China's slowing economy dragged global equities down and outweighed low Libyan output.The U.S. dollar fell to its lowest in more than three months against the yen, making dollar-denominated commodities cheaper for buyers using the Japanese currency.Shanghai shares hit a three-week low and European equities slumped after data on Sunday showed growth in average new home prices in China slowed to a near one-year low in April.Meanwhile, Libya's major western oilfields, El Sharara and El Feel, remained shut a week after the government said it reached a deal with protesters to reopen them. National output has been capped at 210,000 barrels per day (bpd), far below the 1.4 million bpd produced until mid-2013.Heavily armed men stormed the parliament in Libya's capital of Tripoli on Sunday and demanded its suspension, ...

Venezuela to send oil to Palestinians CARACAS: Venezuelan President Nicolas Maduro pledged Friday to send oil and diesel to the Palestinian Authority, as part of agreements signed with its leader Mahmud Abbas during his visit to Caracas.Venezuela, which sits atop the world's largest oil reserves, said it would provide an initial shipment of 240,000 barrels of oil, but gave no details as to how it would send them."Thanks to Venezuela for supporting Palestine... to break Israel's monopoly on our economy, for ...
Oil edges up on US gasoline demand hopes, Ukraine crisis NEW YORK: Oil prices moved modestly higher Friday as the market found support from US gasoline demand hopes ahead of the looming summer-holiday driving season and the ongoing Ukraine crisis.The US benchmark, West Texas Intermediate (WTI) for delivery in June, closed at $102.02 a barrel, a gain of 52 cents from Thursday.Brent North Sea crude for July rose 66 cents to settle at $109.75 a barrel in London.Oil prices were finding support from the approaching ...
Oil prices rise as Libyan output squeezed NEW YORK: Global oil prices rose on Friday as investors worried about Libya after a recovery in the OPEC country's oil supply proved short-lived and government forces clashed with Islamist militias.Libya's El Feel oilfield was shut again by protests and the El Sharara field remained closed, bringing national oil output down to about 200,000 barrels per day (bpd) - far from the 1.4 million bpd pumped last year. The government had pledged to bring western ...
Oil prices rise on declining Cushing inventories NEW YORK: Oil prices moved higher Wednesday, lifted by a new decline in US oil inventories at the key Cushing storage hub and falling gasoline stockpiles.The New York benchmark West Texas Intermediate for June delivery rose 67 cents to $102.37 a barrel, the highest closing price since April 21.In London, Brent oil for June delivery added 95 cents to settle at $110.19 a barrel.Prices gained a boost from the US Department of Energy's weekly oil ...
Hint at US crude exports drives prices higher NEW YORK: Oil prices rose on Tuesday after the top US energy official suggested the United States could possibly move to ease its ban on crude exports.The New York benchmark West Texas Intermediate for June delivery rose $1.11 to $101.70 a barrel.In London Brent oil for June delivery advanced 83 cents to $109.24 a barrel in London. WTI jumped on electronic exchanges early Tuesday after Secretary of Energy Ernest Moniz told reporters in South Korea ...
Oil climbs after Ukraine independence votes NEW YORK: Oil prices rose Monday after pro-Russian rebels held disputed referendums in eastern Ukraine and said voters chose independence, raising fears of a civil war that could disrupt oil supplies. The US benchmark, West Texas Intermediate for delivery in June, added 60 cents to close at $100.59 a barrel. Brent North Sea crude for June gained 52 cents to trade at $108.41 a barrel in London."With the risk of escalating geopolitical tensions in and ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
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