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Brent oil prices recoil on oversupply LONDON: Brent oil prices sank Monday, after bumper gains before the weekend, as some traders took profits and eyed plentiful crude supplies, analysts said.European benchmark Brent North Sea crude for April delivery dropped $2.11 to $60.47 a barrel in London late afternoon deals.On the upside, however, New York's West Texas Intermediate (WTI) for April added 69 cents to $50.45 a barrel.Crude futures had rebounded sharply Friday at the end of a volatile trading week. WTI had advanced $1.59 while Brent gained a hefty $2.53."Oil prices came under renewed pressure," said Sucden analyst Myrto Sokou on Monday."Crude oil inventories continue to remain at fairly high levels following ongoing builds of crude stocks last week."Oil has lost about 50 percent of its value since June, largely due to a global supply glut partially caused by surging US shale production."Although there is still a global supply glut, oil prices are on a general ...

Brent falls to $61 on Iran, US crude recovers above $50 LONDON: Brent crude oil fell more than 2 percent to around $61 a barrel on Monday after Iran said a deal on its nuclear programme could be agreed this week if the West lifts sanctions, which could boost the country's oil exports. International benchmark Brent was also depressed by a stronger dollar and reports of a rise in Libyan crude output, traders said, though US crude recovered to above $50 a barrel as industry monitor ...
Asian spot LNG prices oust Europe as world's No.1 MILAN: Asian spot liquefied natural gas (LNG) prices have re-established a premium over rival European benchmarks, reversing a month-long trend, as Atlantic markets sucked up more supply triggering deficits elsewhere. The Asian spot price rose to $7.65 per million British thermal units (mmBtu) on Feb. 27, while the British front-month gas contract slumped to $7.57 per mmBtu on Monday amid an influx of planned LNG arrivals. In early February, European prices topped Asia as the ...
Poland says sees no further delay in LNG gas terminal construction WARSAW: Poland's Deputy Prime Minister Janusz Piechocinski said on Monday that the liquefied natural gas (LNG) terminal in the Baltic city of Swinoujscie should be ready in July 2015, despite fears of further delay in construction. The terminal, under contruction by Italy's Saipem, is a key element of Poland's strategy to diversify energy sources for the country that now heavily relies on Russian supplies of gas and oil. "It should be (ready in July)," Piechocinski ...
Prompt gas prices slide as supply outstrips demand LONDON: Prompt natural gas prices fell on Monday as supply outpaced demand and expectations of liquified natural gas (LNG) deliveries weighed on the market.The within-day contract traded at 49.65 pence per therm at 0845 GMT, down 2.2 pence since its last settlement. Prices for delivery on Tuesday were down 1.95 pence at 49.95 pence per therm.With supply flows at about 307.1 million cubic metres (mcm) per day on Monday and demand expected to be about ...
Norway's gas output to be cut by 36 mcm/day on Sunday OSLO: Norway's gas production capacity will be cut by 35.6 million cubic meters (mcm) on Sunday due to several outages, including at the country's biggest offshore field Troll, operators said. Output from the Troll field is to be cut by 22.9 mcm, and from nearby Kvitebjoern field by 6.9 mcm/day, gas system operator Gassco said on its website. The two outages started on Saturday and come in addition to an ongoing reduction of 4.9 mcm/day ...
Brent rises above $61, set for first monthly gain since July LONDON: Crude oil futures rebounded on Friday and Brent headed for its first monthly gain since July, helped by strong investor inflows, an improving demand outlook and supply outages. At 1453 GMT, Brent crude futures were up $1.26 at $61.32 a barrel, off an earlier high of $61.75. US crude was up 94 cents at $49.12 a barrel. Both contracts tumbled on Thursday, with US crude falling hardest. Brent is trading at a premium of ...

 



 
Index Closing Chg%
Arrow DJIA 18,288.63 0.86
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln