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Brent slips below $108 as Mideast tension cools on Gaza lull SINGAPORE: Brent crude slipped below $108 a barrel on Monday as fighting between Israel and Hamas militants subsided in Gaza, but some analysts said falls may be limited. Geopolitical tensions in the Middle East eased for now after Hamas said it backed a 24-hour humanitarian truce. US President Barack Obama had called for a ceasefire but there was no sign of any comprehensive deal to end fighting with Israel. September Brent crude fell 50 cents to $107.89 a barrel by 0321 GMT after a 1 percent gain last week. US crude futures for September delivery dropped 52 cents to $101.57 a barrel after ending last week 1 percent lower. "Oil markets are going down because of a ceasefire for 24 hours in Israel and Gaza," said Ken Hasegawa, a commodity sales manager at Newedge Japan. "This has definitely put some pressure on oil." Hasegawa said oil prices were expected to ...

Japan offers Mexican crude from strategic reserves TOKYO: Japan's trade ministry on Monday issued a tender offering a total 1.89 million barrels (about 300,000 kilolitres) of Mexican crude from the government's Strategic Petroleum Reserves as part of a plan to replace the oil with other grades. The tender will be held on Aug. 13. The tender is for about 1 million barrels (160,000 kl) to be delivered between Sept. 10-Oct. 20 and the remaining 881,000 barrels (140,000 kl) to be delivered in ...
Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asia Friday as soft gasoline demand in the United States offset upbeat manufacturing data from China, analysts said.US benchmark West Texas Intermediate (WTI) for September delivery dipped eight cents to $101.99 a barrel in afternoon trade, while Brent crude gained two cents to $107.09."WTI prices are kept pressured under by gasoline inventories, which expanded for the third straight week despite the ongoing driving season in the US," said Desmond ...
Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asia Friday as soft gasoline demand in the United States offset upbeat manufacturing data from China, analysts said.US benchmark West Texas Intermediate (WTI) for September delivery dipped 11 cents to $101.96 a barrel in late-morning trade, while Brent crude gained three cents to $107.10."WTI prices are kept pressured under by gasoline inventories, which expanded for the third straight week despite the ongoing driving season in the US," said Desmond ...
Oil prices turn lower in Asian trade SINGAPORE: Oil prices turned lower in Asia Thursday as investors took a breather from gains that came after the United States reported a large decline in its crude inventories, indicating strong demand.US benchmark West Texas Intermediate for delivery in September was down 24 cents at $102.88 a barrel in afternoon trade and Brent crude tumbled 13 cents to $109.90.Despite the dip, analysts said prices are likely to remain high because of data showing strong demand ...
Brent steady above $108, supported by China factory activity SINGAPORE: Brent crude was steady above $108 a barrel on Thursday, holding on to the previous day's gains, after a surprisingly strong reading on Chinese manufacturing bolstered hopes for higher demand in the world's second-biggest oil consumer. China's factory sector expanded at its fastest pace in 18 months in July, as a raft of government stimulus measures kicked in, a preliminary HSBC survey showed on Thursday. "China is a big commodities player, and this is ...
US oil to retrace to $102 SINGAPORE: US September oil is expected to break support at $102.66 and retrace further to $102 per barrel, as indicated by a Fibonacci retracement analysis and a rising channel.The support is provided by the 50 percent Fibonacci retracement on the fall from the June 25 high of $106.64 to the July 15 low of $98.68. Oil seems to have been bouncing up and down within the rising channel from July 17, the lower channel line ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln