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Brent drops towards $102, weak demand view hurts CHENNAI: Brent crude slipped towards $102 per barrel on Monday, extending last week's 2 percent drop, as a weak economic outlook in a well-supplied market pressured prices.The outlook for global oil demand growth weakened last week after disappointing data from key consumer China and reports showing ample US inventory, which dragged down Brent from this month's high near $106 per barrel."The markets are in a bit of a moderation mode at the moment, and we're seeing cumulative profit taking," said Ric Spooner, chief market analyst at CMC Markets in Sydney."The catalyst was the weaker numbers from China last week and the fact that the markets are reasonably comfortable with geo-political risks at the moment," he said, adding that the markets may tend towards the weaker side in coming weeks.Brent futures dropped 31 cents to $102.33 per barrel at 0354 GMT, following its worst weekly performance in five weeks. US crude ...

Oil prices set for biggest weekly loss in five SINGAPORE: Crude futures are set to post their biggest weekly loss in five weeks, with Brent edging down toward $102 per barrel on Friday, as ample supply and a slow global economic recovery fuelled worries that demand for oil would be hit.Crude inventories in the United States are near record levels as the world's top oil consumer produced more from shale, while shrinking factory activity in China capped fuel demand growth at the world's No.2 ...
Oil extends losses on weak Chinese data, strong dollar SINGAPORE: Oil extended its losses in Asian trade on Thursday on weak Chinese manufacturing data and a stronger dollar, analysts said.New York's main contract, West Texas Intermediate light sweet crude for delivery in July, dropped 63 cents to $93.65 a barrel in the afternoon and Brent North Sea crude for July delivery shed 60 cents to $102.00."Oil is on the downside with the Chinese PMI (purchasing managers' index) data... people were expecting that it would ...
Brent weakens towards $102 on gloomy China data, strong dollar CHENNAI: Brent crude futures slipped towards $102 a barrel on Thursday as fresh data from China cast doubt on the strength of recovery in the world's second-biggest oil consumer and the dollar weighed on commodity markets.China's factory activity shrank in May, with the preliminary purchasing managers index (PMI) slipping to a seven-month low, reflecting slower local demand as well as headwinds from the United States and the European Union. "China's demand for oil will be ...
Oil down in Asian trade SINGAPORE: Oil was down in Asia on Wednesday as traders waited for the release of the latest energy inventory report from the United States, analysts said.Weak demand and surging crude stockpiles in the world's biggest economy have put downward pressure on prices and limited gains.New York's main contract, West Texas Intermediate light sweet crude for delivery in July, dropped 48 cents to $95.70 a barrel in the afternoon and Brent North Sea crude for July ...
Oil down in Asian trade SINGAPORE: Oil was down in Asia on Wednesday as traders waited for the release of the latest energy inventory report from the United States, analysts said.Weak demand and surging crude stockpiles in the world's biggest economy have put downward pressure on prices and limited gains.New York's main contract, West Texas Intermediate light sweet crude for delivery in July, dropped 42 cents to $95.76 a barrel and Brent North Sea crude for July delivery shed 32 ...
Brent holds near 2-week top around $105 on supply worries CHENNAI: Brent crude futures steadied near a two-week high on Tuesday, holding around $105 per barrel as rising Middle East tensions offset concerns about moderating demand growth to keep prices in a tight range.Reports that Lebanese Hezbollah guerrillas were involved in fierce fighting for Syria's embattled president prompted alarm the civil war might spread to neighbouring oil producers, while a weakening dollar added to support.Bearing down on prices are concerns that data this week may ...

 



 
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%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln