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Oil slide despite geopolitical jitters LONDON: World oil prices sank on Monday as traders appeared to shrug off geopolitical worries over key crude producing regions, dealers said.Brent North Sea crude for delivery in September dropped 94 cents to stand at $107.45 per barrel nearing midday in London.US benchmark West Texas Intermediate for September fell 61 cents to $101.48 a barrel."The oil market still appears unaffected by the numerous sources of geopolitical crisis," said Commerzbank analysts in a note to clients."The complacent attitude of market participants is amazing in view of the considerable risks to supply and could result in a significant price increase the moment they choose to reassess the situation."Before the weekend, however, Brent oil prices had however surged on Friday on geopolitical concerns.Brent tends to react more dramatically to international risks than WTI, which responds mostly to the forces of supply and demand in the United States.Analysts warn that the eurozone economy could ...

Oil falls below $108 on excess supply, weak demand LONDON: Brent crude oil slipped below $108 a barrel on Monday as weak demand in Europe and Asia and ample supply in the Atlantic basin outweighed political tensions in Ukraine and the Middle East.North Sea and West African physical crude markets are over supplied, traders and brokers say, with sellers discounting heavily in an effort to attract buyers such as oil refiners.September Brent was down 66 cents at $107.73 a barrel by 0840 GMT. Earlier ...
UK gas prices fall on reduced exports and robust LNG supply LONDON: Wholesale natural gas prices in Britain fell on Monday morning due to oversupply in the market as exports to the continent were reduced and liquefied natural gas (LNG) supply was expected to increase.Gas prices for delivery on Tuesday declined to 38.75 pence ($0.66) per therm at 0834 GMT, 1.65 pence lower than the previous close, while gas for immediate delivery was down 2.55 pence at 38.35 pence per therm.Prices for the winter 2014-2015 season ...
Hungary says gas flows from Ukraine normal on Monday BUDAPEST: Russian natural gas flows to Hungary via Ukraine were running normally on Monday morning, Hungarian pipeline operator FGSZ Zrt said.Russia cut off gas to Ukraine on June 16 in a dispute over unpaid bills but continues to supply gas that Ukraine sends on to Russia's clients in Europe.Copyright Reuters, 2014 ...
Oil slips below $107 as ample supply outweighs risk premium LONDON: Oil fell below $107 a barrel on Friday as plentiful supply outweighed concerns over conflicts in the Middle East and Ukraine. Brent crude for September delivery traded 18 cents lower at $106.89 a barrel by 1400 GMT. The contract had closed 96 cents lower on Thursday. "There is ample prompt supply of crude oil, but the geopolitics in Ukraine, Gaza, Iraq and Libya is providing support," said Olivier Jakob, an analyst at Petromatrix in ...
Oil flat around $107 as ample supply offsets risk premium LONDON: Oil held steady around $107 a barrel on Friday, as plentiful supply countered any premium to prices caused by concern over conflicts in the Middle East and Ukraine. Brent crude for September delivery traded 14 cents higher at $107.21 a barrel by 1020 GMT. The contract had closed 96 cents lower on Thursday.US crude for September delivery was up 10 cents at $102.17 a barrel, after settling $1.05 lower.The continuing conflicts, however, did little ...
Statoil disappoints in Q2 as production falls OSLO: Norwegian oil giant Statoil stood by its production target for 2014 on Friday despite a second-quarter drop in output which weighed on its results.Adjusted earnings, an indicator followed closely in financial markets, were down by 15 percent to 32.3 billion kroner (3.87 billion euros, $5.20 billion) compared to 38 billion kroner a year earlier. The results were affected by divestments, seasonal effects and lower gas prices, said Statoil, which is 67-percent owned by the ...

 



 
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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