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Oil up as Netanyahu blasts Iran, Libya forces strike terminals NEW YORK: Oil rebounded on Tuesday as Israeli Prime Minister Benjamin Netanyahu warned the Obama administration against accepting a weak nuclear deal with Iran, while rival Libyan forces targeted oil terminals in the African nation.Higher prices imposed by Saudi Arabia on its crude buyers in Asia, the United States and northwest Europe was another positive development, traders said, although some had expected benchmark Brent and U.S. oil futures to rally even more on that.U.S. crude futures were volatile on concerns that oil inventories in the United States had hit record highs. Industry group American Petroleum Group (API), however, indicated that last week's crude builds could be smaller than initially thought.Oil got a strong start after rival Libyan forces carried out tit-for-tat air strikes on oil terminals and an airport, reviving fears over local crude supplies.Gains accelerated just before noon in New York when Netanyahu told the U.S. Congress that the ...

Oil prices rise on Libya unrest NEW YORK: Oil prices turned higher Tuesday on unrest in exporter Libya and as the market expected another rise in US inventories.In New York trade, West Texas Intermediate (WTI) for April delivery rose 93 cents to $50.52 a barrel.European benchmark Brent North Sea crude for April leaped $1.48 to $61.02 a barrel in London."Geopolitical tension returns to the fore to support oil prices today, as Libya experiences fresh attacks on its oil fields by militants," ...
Oil up on Libya; US crude volatile before inventory data NEW YORK: Oil rebounded on Tuesday from the previous session's tumble, lifted by fighting that threatened Libya's oilfields, although U.S. crude struggled to hold to gains due to record crude inventories.Higher prices imposed by Saudi Arabia for its crude buyers in Asia, the U.S. and northwest Europe did not immediately boost benchmark Brent and U.S. oil futures, although some traders saw the move as supportive.Brent jumped almost 3 percent, trading firmly above the $60-a-barrel support ...
Oil up as Netanyahu blasts Iran in speech; Libyan forces fight NEW YORK: Oil rebounded on Tuesday as Israeli Prime Minister Benjamin Netanyahu warned the Obama administration against accepting a weak nuclear deal with Iran, and rival Libyan forces targeted oil terminals in the African nation.Higher prices imposed by Saudi Arabia for its crude buyers in Asia, the United States and northwest Europe were another positive development, traders said, although some had expected benchmark Brent and U.S. oil futures to rally even more on that.U.S. crude ...
Oil tumbles on Iran, Libya; worry about high supply returns NEW YORK: Brent futures fell 5 percent, its most in a month, on Monday as speculation of a nuclear deal that could lift Iran's sanctions and boost its oil exports brought worries about high supplies back to the market.Rising Libyan crude output and a firmer dollar also weighed on Brent.U.S. crude futures also fell but only slightly, supported by data suggesting a smaller-than-expected build last week in the Cushing, Oklahoma delivery point for oil.Players were ...
Oil prices drop on lofty supplies NEW YORK: Oil prices fell Monday on renewed concerns about excess global supplies, with the European benchmark contract falling especially hard following a surge late last week.US benchmark West Texas Intermediate (WTI) for April delivery dipped 17 cents to $49.59 a barrel on the New York Mercantile Exchange.European benchmark Brent North Sea crude for April delivery dived $3.04 to $59.54 a barrel in London.Tim Evans, energy analyst at Citi Futures, cited a "partial recovery " ...
Brent down 4pc on Iran, Libya; US crude up on spread play NEW YORK: Brent crude tumbled nearly 4 percent on Monday on speculation of a nuclear deal that could boost Iran's oil exports, and U.S. crude rose by almost 2 percent as traders bet the gap between the two would narrow.Iranian Foreign Minister Mohammad Javad Zarif said a deal on Iran's nuclear programme could be concluded this week if the United States and other Western countries had sufficient political will and agreed to remove sanctions on ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
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