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South Korea June Iran oil import up; Jan-June import down SEOUL: South Korea's imports of crude from Iran rose by 7 percent in June from a year ago but its oil shipments from the OPEC member in the first half of this year fell 11 percent year on year, or below last year's daily average, customs data showed on Tuesday. South Korea imported 604,402 tonnes of Iranian crude oil last month, or 147,676 barrels per day (bpd), higher than 284,327 tonnes a month ago and 565,444 tonnes a year ago, the preliminary customs data showed. The country's Iran oil intake in January-June of this year, however, marked 3.1 million tonnes or 126,145 bpd, meaning 11 percent lower than 3.5 million tonnes or 141,839 bpd imported a year earlier, and also 6 percent less than last year's average of 134,000 bpd, according to the data and Reuters calculation. Iranian oil imports by Asia's fourth-largest economy fluctuate monthly as one of its ...

Brent holds above $106 as Libya, Iraq violence renews supply worries SINGAPORE: Brent crude held steady above $106 a barrel on Monday, hovering just off three-month lows, as the potential for renewed supply disruptions put a floor under prices that have been tumbling since the last week of June.Brent lost $2.01 on Friday to settle at $106.66 a barrel, the lowest finish since April 7. The benchmark lost about 3.6 percent last week, the steepest weekly fall since early January.But the market could see a strong ...
Brent rises to near $107 as Libya, Iraq violence renews supply worries SINGAPORE: Brent crude bounced off of three-month lows on Monday to near $107 a barrel as the potential for renewed supply disruptions put a floor under prices that have been tumbling since the last week of June.Brent lost $2.01 on Friday to settle at $106.66 a barrel, the lowest finish since April 7. The benchmark lost about 3.6 percent last week, the steepest weekly fall since early January. But the market could see a strong ...
Brent oil to test support at $105.98 SINGAPORE: Brent oil may slide to $105.98 per barrel, following its break below a support at $107.84.The support was provided by the 61.8 percent Fibonacci retracement on the rise from the Nov. 8, 2013 low of $102.98 to the June 19 high of $115.71.The next support will be at $105.98, the 76.4 percent retracement.It is not very clear if oil could break $105.98 and fall more towards $102.98. However, the big loss on July 11 ...
Oil prices rebound in Asia SINGAPORE: Oil rebounded in Asia Monday on bargain hunting following sharp falls last week stoked by the prospect of a revival in Libyan supplies.US benchmark West Texas Intermediate for August delivery was up nine cents to $100.92 in mid-morning trade. It declined $2.10 in New York trade Friday.Brent crude for August advanced 18 cents to $106.84 after falling $2.01 in London trade.Libya's interim Prime Minister Abdullah Al-Thani declared earlier this month that authorities had regained ...
Middle East Crude: DME Oman's premium slips to more than 2-week low SINGAPORE: The Middle East crude market softened on Friday with DME Oman's premium to Dubai down for the seventh session to reach the lowest in more than two weeks.Trade in September-loading barrels has yet to start this month as Asian refiners are still finalising their requirement while waiting for a clearer demand outlook. Refiners have capped utilisation rates on weak margins."It's not a matter of prices, it's a matter of demand," a trader with a ...
Oil prices down in Asian trade SINGAPORE: Oil prices edged lower in Asia Friday as fears recede about major supply disruptions in the Middle East, analysts said.US benchmark West Texas Intermediate for August delivery eased 21 cents to $102.72 while Brent crude was down 13 cents at $108.54 in afternoon trade. Sanjeev Gupta, head of the Asia-Pacific oil and gas practice at consultancy firm EY, said oil prices were weighed down by the imminent return of disrupted Libyan exports into a ...

 



 
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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