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Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed 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 two cents to $102.91 while Brent crude was up six cents at $108.73 in mid-morning 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 global market already flush with supply. Brent crude has fallen more than $3.0 since July 3 after Libya's interim Prime Minister Abdullah Al-Thani declared that authorities have regained control of two export terminals blockaded by rebels.The ports at Ras Lanuf and Al-Sidra could add about 500,000 barrels of crude per day to global energy markets, analysts say. Output in Sharara, the site of Libya's largest oil field, is reaching its maximum production capacity of 340,000 ...

Brent hits 1-month low near $108, weak US gasoline demand hurts SINGAPORE: Brent crude dropped to a one-month low near $108 a barrel on Thursday, extending its longest losing streak in four years, as weak gasoline demand in the United States offset a rise in oil imports by China.Investors were disappointed with data showing a rise in U.S. gasoline inventories last week, indicating demand was not as strong as expected during the peak summer driving season.Brent crude fell 27 cents to $108.01 a barrel by 0703 ...
China June oil, copper, iron ore imports fall for 2nd month SHANGHAI: China's imports of crude oil, copper and iron ore fell for a second month in June as factors including unfavourable prices, economic uncertainties and tighter credit weighed on sentiment, but overall demand remained healthy.Arrivals of soybean and coal ticked up from month ago, although fresh orders of both have slowed to a trickle and imports are expected to fall from July onwards, traders said.Despite a slowing economy, China's import demand for commodities has generally ...
Oil prices down in Asia SINGAPORE: Oil prices fell in Asia Thursday following a mixed US supply report and easing concerns over tensions in the Middle East, analysts said.US benchmark West Texas Intermediate for August delivery declined 49 cents to $101.80 while Brent crude dipped 13 cents to $108.15 in afternoon trade."Oil tumbled as a rise in US gasoline inventories signalled weak demand, and a restart of a Libyan oilfield helped ease supply worries," Singapore's United Overseas Bank said in ...
Oil prices down in Asia SINGAPORE: Oil prices fell in Asia Thursday following a mixed US supply report and easing concerns over tensions in the Middle East, analysts said.US benchmark West Texas Intermediate for August delivery declined 31 cents to $101.98 while Brent crude dipped 11 cents to $108.17 in late-morning trade."Oil tumbled as a rise in US gasoline inventories signalled weak demand, and a restart of a Libyan oilfield helped ease supply worries," Singapore's United Overseas Bank said in ...
Brent-Dubai crude spread falls to eight-month low SINGAPORE: Brent's premium to Dubai crude fell to its lowest in eight months on Wednesday as the European benchmark traded lower on optimism over oil supply from Libya and Iraq.Brent-Dubai Exchange of Futures for Swaps (EFS) for August was valued at $3.10 a barrel, down 33 cents from Tuesday's close and the narrowest since November 8. Brent traded lower for an eighth consecutive session on Wednesday and was on track for its longest losing streak ...
South Korea's SK Energy shuts secondary unit at Ulsan due to fire SEOUL: South Korea's top refiner SK Energy has shut a residue hydrodesulfurization unit (RHDS) following a small fire at its Ulsan site, a spokeswoman from SK Innovation said on Wednesday. SK Innovation is the parent company of SK Energy, which operates two refineries, one in Incheon and another in Ulsan. The restart dates of the 40,000 barrels per day (bpd) RHDS -- a unit which processes feedstock from a crude unit for gasoline-making unit residue ...

 



 
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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