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Oil prices slip awaiting Russia sanctions LONDON: Oil prices turned lower on Thursday as the market took their leads from geopolitical tensions affecting key crude producing regions Russia and the Middle East.Brent North Sea crude for delivery in September dropped 25 cents to stand at $107.78 in London midday deals.US benchmark West Texas Intermediate for September fell 32 cents to $102.80 a barrel."The market should continue to monitor geopolitical headlines," said Andrey Kryuchenkov, analyst at financial group VTB Capital."We do not expect sustained (price) gains unless reports emerge of actual supply-side disruptions. The market is comfortably supplied with seasonal demand in Europe still slackening," he added. Investors and traders were following decisions by the European Union, which may go even further than the United States in hitting Russian banks with sanctions over the Ukraine crisis, curbing their ability to raise fresh funds, reports said on Thursday.As member state ambassadors to the EU began a meeting to ...

UK gas prices edge up on possible new EU sanctions against Russia LONDON: Wholesale natural gas prices in Britain rose on Thursday as the threat of economic sanctions on Russia offset ample supply.Gas prices for delivery the next day were trading at 37.60 pence per therm at 0855 GMT, up 0.35 pence since their last close, while prices for delivery within the day were up 0.05 pence to 37.25 pence a therm."There's a fear that five months up the line, or even before, flows from Russia to ...
Brent oil dips below $108, market well-supplied LONDON: Brent crude dipped below $108 a barrel on Thursday as unseasonably weak demand from European refiners and plentiful supplies offset strong Chinese factory data.Brent for September delivery was down 31 cents at $107.72 a barrel by 0909 GMT, after closing 70 cents higher on Wednesday. U.S. crude was down 33 cents at $102.79 a barrel, after gaining 73 cents in the previous session."Oil is moving in a small range. It opened relatively high and ...
Oil market firm before US energy report LONDON: World oil prices edged higher Wednesday in cautious trading and dealmakers monitored the latest newsflow from Ukraine and the Middle East, ahead of the weekly US inventories report.Israel's operation against Hamas in Gaza continued to cause tensions, however, as UN chief Ban Ki-moon urged an end to the conflict that has entered its 16th day.Brent North Sea crude for delivery in September climbed 30 cents to stand at $107.63 a barrel nearing midday in ...
UK gas near-term prices weaker on oversupply LONDON: Wholesale natural gas prices in Britain were lower on Wednesday as supply continued to exceed demand.The front-month futures lost 0.4 percent to 37.20 pence/therm in early trade, while the day-ahead contract had not traded at the time of writing but was bid at 36.85 pence, 0.15 pence below Tuesday's settlement."A long system and higher forecasted UKCS (UK Continental Shelf) flows for today are the two bearish factors for the day-ahead contract," analysts at Thomson ...
Brent firm above $107; strong dollar offsets global tensions LONDON: Brent crude steadied above $107 a barrel on Wednesday as a stronger dollar and weak demand offset threats to supplies from oil-producing regions.The European Union threatened Russia with harsher sanctions on Tuesday after the downing of the Malaysian airliner in Ukraine, straining the EU's relationship with the world's second-largest oil exporter."When the U.S. and the EU impose more sanctions on Russia, that will impact the mid-term production profile of the Russian oil industry," said ...
Russian gasoline exports down 15.4pc in June vs May MOSCOW: Russian gasoline and fuel oil exports in June fell by 15.4 percent and 2.0 percent, respectively, on a daily basis from May, while gas oil exports were up by 6.1 percent, data from the Energy Ministry and Reuters showed. Russia's domestic supplies of gasoline and fuel oil increased by 6.3 percent and 6.4 percent, respectively, while local shipments of gas oil grew by 3.6 percent.According to the market sources, major refineries cut their gasoline ...

 



 
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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