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Brent holds above $106 on weak China data, seasonal slump SINGAPORE: Brent crude held above $106 per barrel on Monday weighed down by a seasonal slump in demand and weak economic data from China, after posting its fourth weekly loss in a row on Friday. Brent crude fell 17 cents to $106.75 by 0325 GMT, after settling 47 cents higher at $106.92 on Friday. US oil for May delivery dropped 23 cents to $99.23 after closing at $99.46 on Friday to pare some of the gains from fears of supply disruptions following sanctions against Russia, the world's second largest oil producer. "There is no real support for Brent. The market is coming back to Earth. I think the market is going to focus on supply. On balance the market is balanced to oversupplied," said Tony Nunan, oil risk manager at Japan's Mitsubishi Corp. A seasonal slump in demand has led to a near 5 percent price slide since the beginning ...

Crude prices drop on weak Chinese manufacturing data SINGAPORE: Oil prices eased in Asian trade Monday on demand fears after data suggested China's manufacturing activity contracted in March to its weakest rate in eight months.New York's main contract, West Texas Intermediate for May delivery, eased 19 cents to $99.27 a barrel in mid-morning trade, and Brent crude for May dipped 18 cents to $106.74.HSBC said preliminary readings showed Chinese factory activity had contracted in March, adding to concerns about the world's number two ...
China's Feb crude imports from Iran rise 6pc y/y BEIJING: China's February crude oil imports from Iran rose 6 percent from a year ago to 552,613 barrels per day (bpd), customs data showed on Friday, keeping imports in 2014 close to levels before Western sanctions were applied more than two years ago. Iran's exports have been rising the past four months, ever since the breakthrough November deal that eased some sanctions on Tehran in exchange for curbs on its nuclear programme.Under the temporary deal, ...
Oil prices slip in Asian trade SINGAPORE: Oil prices fell in Asia Friday owing to a stronger dollar after the head of the US Federal Reserve hinted at an interest rate rise early next year, but losses were tempered by lingering concerns about the Crimea crisis.New York's main contract, West Texas Intermediate for May delivery, tumbled 58 cents to $98.32 a barrel and Brent crude for May dipped 35 cents to $106.10.The dollar surged on Wednesday after Janet Yellen said a ...
Oil prices slip down in Asian trade SINGAPORE: Oil prices fell in Asia Friday owing to a stronger dollar after the head of the US Federal Reserve hinted at an interest rates rise early next year, but losses were tempered by lingering concerns about the Crimea crisis.New York's main contract, West Texas Intermediate for May delivery, tumbled 33 cents to $98.57 a barrel and Brent crude dipped 18 cents to $106.27.The dollar surged on Wednesday after Janet Yellen said a rate rise ...
Japan's JX to buy Malaysia LNG for 10 years from 2015 TOKYO: Japan's JX Nippon Oil & Energy Corp said on Thursday it has signed a contract to buy 380,000 tonnes per year of liquefied natural gas (LNG) from the Malaysia LNG Dua project for 10 years from 2015. LNG supplies will be delivered to its Hachinohe LNG terminal in northern Japan, due to be operational in April 2015, and to its existing LNG terminal in Mizushima, west Japan, the company, a wholly-owned unit of JX ...
Crude prices rise in Asian trade SINGAPORE: Oil prices rose in Asian trade Thursday after stockpiles declined at a key US trading hub, indicating stronger demand, and on news of a major pipeline expansion in the United States.New York's main contract, West Texas Intermediate (WTI) for April delivery, rose 38 cents to $100.75 in afternoon trade and Brent North Sea crude for May gained 30 cents to $106.15.The US Department of Energy (DoE) report showed supplies at the Cushing, Oklahoma trading ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln