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Brent holds near $115, heads for 2nd weekly gain on Iraq turmoil SINGAPORE: Brent crude held near $115 a barrel on Friday, close to a nine-month high, and was headed for its second weekly gain on increased risks of disruption to supply from Iraq.Iraqi government forces battled Sunni militants for control of the country's biggest refinery on Thursday. If the 300,000 barrels per day refinery stays closed, Baghdad will need to import more oil products to meet its own domestic consumption, further tightening oil markets. Fields south of Baghdad, where most of Iraq's 3.3 million barrels per day (bpd) of oil is produced, as well as exports remain unaffected. But heavy fighting north of the capital and foreign oil firms beginning to pull out staff pose a risk to supplies from OPEC's number two producer. "This raises the risk of production halts in the near future, so although there are no disruptions at the moment, we do see further upside to prices," ...

Oil mixed in Asia amid Iraq supply fears SINGAPORE: Oil prices were mixed in Asia Friday but retained support near a nine-month peak as dealers track the unfolding sectarian conflict in Iraq fearing it could cause a major supply disruption. Brent crude for August fell four cents to $115.02 in afternoon trade, after rallying to $115.06 in London, its highest since early September. US benchmark West Texas Intermediate for July delivery rose 15 cents to $106.58. "Oil saw support from the risk of ...
Oil mixed in Asia amid Iraq supply fears SINGAPORE: Oil prices were mixed in Asia Friday but retained support near a nine-month peak as dealers track the unfolding sectarian conflict in Iraq fearing it could cause a major supply disruption. Brent crude for August eased 15 cents to $114.91 in mid-morning trade, after rallying to $115.06 in London, its highest since early September. US benchmark West Texas Intermediate for July delivery rose 26 cents to $106.69. "Oil saw support from the risk of ...
Brent above $114 near 9-month high on Iraq turmoil SINGAPORE: Brent crude held above $114 a barrel on Thursday near a nine-month high, supported by concerns about potential supply disruptions due to fighting in Iraq. Brent was poised for a third day of gains following a rise of more than 4 percent last week after militants seized much of northern Iraq after routing Baghdad's forces. "The oil market remains on high alert, but is in a holding pattern at this stage awaiting further developments ...
China oil giants prepare Iraq evacuation plans: report BEIJING: Major Chinese oil firms have prepared evacuation plans in case spreading violence in Iraq -- a key energy provider to the Asian giant -- threatens their operations, state media reported Thursday.China has more than 10,000 workers on a wide range of projects in the Middle Eastern country, officials say, although most are in the south, far from the current fighting.Militants from the jihadist group the Islamic State of Iraq and the Levant (ISIL) have ...
Oil prices up with Iraq violence in focus SINGAPORE: Oil prices rose in Asian trade Thursday with escalating violence in Iraq sharply in focus as militants attacked the major crude producer's biggest refinery and seized more territory.US benchmark West Texas Intermediate (WTI) for July rose 35 cents to $106.32 while Brent crude for August gained nine cents to $114.35 in late-morning trade.WTI has jumped by more than $2.0 a barrel and Brent by over $4.0 since the escalation of the jihadist offensive last ...
Oil prices mixed ahead of Fed decision, Iraq fears linger SINGAPORE: Oil prices were mixed in Asia Wednesday as dealers await the US Federal Reserve's latest policy statement while also tracking ongoing violence in crude producer Iraq.US benchmark West Texas Intermediate for July delivery gained five cents to $106.41, while Brent crude for August eased 34 cents to $113.11 in afternoon trade. Singapore's United Overseas Bank said trading "will be dominated" by the Fed's formal policy statement to be released later Wednesday after a two-day ...

 



 
Index Closing Chg%
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln