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Brent holds near $113 on Iraq supply concerns SINGAPORE: Brent crude futures held near $113 per barrel on Tuesday with the United States considering air strikes in Iraq as the security situation worsens in the key oil producing country. Militants have routed Baghdad's army and seized the north of the country in the past week, threatening to dismember Iraq, although 3.3 million barrels per day of oil exports remain unaffected. President Barack Obama met with top national security advisors on Monday to consider options for military action to support Iraq's besieged government. "The situation is very difficult to evaluate, and for now the market is more let by psychological factors rather than any actual supply disruptions," said Tetsu Emori, a commodity fund manager at Astmax Investment. Brent crude for August delivery had fallen 30 cents to $112.64 a barrel by 0320 GMT.The contract settled 48 cents higher on Monday, after touching an intraday high of $113.28. US July ...

Oil prices down in Asian trade SINGAPORE: Oil prices eased in Asian trade Tuesday, but losses were limited as investors fret over a potential supply disruption due to the worsening sectarian violence in key crude producer Iraq.US benchmark West Texas Intermediate for July delivery fell 18 cents to $106.72 a barrel in mid-morning trade, while Brent crude for August declined 24 cents to $112.70."Crude oil prices continue to face upward pressure from the risk of supply disruptions as Sunni insurgents intensify ...
Middle East crude August down on OSPs, soft demand SINGAPORE: Several Middle East crude grades for August loading traded at lower differentials than the previous month as producers raised official selling prices (OSPs) and as weak refining margins capped demand in Asia, traders said on Monday.Japanese refiners commenced purchases late last week, paying premiums between 15 and 19 cents a barrel to OSP for Murban, down from 30-40 cents from the previous month, they said. A Japanese refiner has bought a Das Blend cargo ...
July fuel oil arbitrage to Singapore to hit 2-month low SINGAPORE: Fuel oil supply shipped from the West for arrival in Singapore in July is expected to hit a two-month low, though thin demand could limit any gains due to tighter supply, a survey of shipping and trade sources showed. An estimated 2.96 million tonnes of fuel oil should reach Singapore in July from Europe and the Americas, 4.2 percent less than in June, Reuters analysis of shipping data showed. Total fuel oil supplies into ...
Brent rises above $113, holds near 9-month top as Iraq violence rises SINGAPORE: Brent crude rose to a near nine-month high above $113 per barrel on Monday as Sunni insurgents advanced in Iraq, intensifying concerns over a potential disruption to oil exports from the second-largest OPEC producer. The sudden eruption of violence in Iraq led to a sharp spike in prices last week, with both Brent and US crude gaining over 4 percent - the most since July and December respectively. Prices rose more modestly on Friday ...
China, Central Asian countries open 3rd gas line ISLAMABAD: The third line of the China-Central Asia Natural Gas Pipeline started to transport natural gas to China, China National Petroleum Corporation (CNPC) announced late Sunday.The 1,830-km Line C of the pipeline, parallel to Line A and Line B, starts at the Turkmen-Uzbek border and runs through central Uzbekistan and southern Kazakhstan before reaching China's northwest region of Xinjiang, Xinhua News reported.The transport capacity of Line C, which currently stands at 7 billion cubic meters ...
Crude prices rise in Asia on Iraq violence SINGAPORE: Crude prices rose to nine-month highs in Asian trade Monday as investors kept a wary eye on the worsening crisis in Iraq, where insurgents were advancing on the capital Baghdad.US benchmark West Texas Intermediate for July delivery jumped 56 cents to $107.47 a barrel in afternoon trade, while Brent crude for August surged 62 cents to $113.08."Markets remain on high alert on developments in Iraq... Investors are focused on Iraq and the potential for ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln