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Brent dips near $107 on weaker demand outlook LONDON: Brent oil futures dipped towards $107 a barrel on Friday following a weaker outlook for 2014 global demand growth from the International Energy Agency and due to expectations that more Libyan crude will reach the market next week. Brent crude was down 29 cents at $107.17 a barrel by 0927 GMT after settling 52 cents lower on Thursday.The contract was on track to end the week about 0.5 percent higher, recouping part of the previous week's losses. US oil was down 19 cents at $103.21 a barrel but was set to end the week about 2 percent higher. The US oil complex was lifted by a sharp, unexpected fall in US gasoline inventories on Wednesday due to robust demand. The spread between Brent and US crude touched $3.88 a barrel on Friday, a new low since September 2013. Both contracts sold off after the IEA said in a monthly ...

Crimea clouds oil market outlook: IEA PARIS: The global oil market is returning to a rough balance but Russia's annexation of Crimea has clouded the outlook with both supply and demand growth to slow, the International Energy Agency said Friday.While the IEA has recently been warning of tight markets as oil demand picks up with a recovery of the global economy, it said stocks had improved and a slowdown in the Russian economy would also help relieve pressure.The IEA left its ...
Oil prices drop after weak Chinese data LONDON: Oil prices fell on Thursday after weak Chinese trada data, but losses were curbed by upbeat US demand and lingering doubts about the full resumption of Libyan exports, analysts said. New York's main contract West Texas Intermediate (WTI) for May delivery dipped nine cents to $103.51 a barrel.Brent North Sea crude for May slid 42 cents to stand at $107.56 a barrel in London late morning trade.Government data on Thursday showed Chinese imports slumped ...
Urals weakens in the Baltic, opening arb options LONDON: Russian Urals crude weakened in the Baltic on Wednesday due to a number of unsold cargoes while Kazakh CPC continued to strengthen due to a lack of sweet barrels.In the Platts window, Trafigura bought a cargo of Urals from Eni at dated Brent minus $1.30 a barrel, some 35 cents weaker than previous price estimates, traders said.Total bid for a cargo of CPC at dated Brent minus 40 cents, some 10 cents stronger than ...
Oil prices steady before US data LONDON: Oil prices steadied on Wednesday following a surge the day before, as traders awaited energy inventory data from the United States for demand clues regarding the world's biggest crude consumer.New York's main contract West Texas Intermediate (WTI) for delivery in May fell 16 cents to $102.40 a barrel ahead of the stockpiles figures due 1430 GMT.Brent North Sea crude for May edged up five cents to stand at $107.72.Analysts expect the US government inventories ...
Oil market rises on resurgent Ukraine tensions LONDON: Global oil prices advanced on Tuesday on renewed Ukraine tensions after pro-Russian protesters seized government buildings in the eastern city of Donetsk.New York's West Texas Intermediate (WTI) for delivery in May won 77 cents to $101.21 per barrel. Brent North Sea crude for May gained 50 cents to $106.32 a barrel in late morning trade in London.NATO's chief on Tuesday warned Russia against further intervention in Ukraine, urging Moscow to "step back" after pro-Kremlin ...
Brent oil rises above $106 on renewed Ukraine tension LONDON: Brent crude rose above $106 a barrel on Tuesday as fresh unrest in eastern Ukraine heightened tension between Russia and the West, but hopes Libya would soon resume oil exports kept prices capped. The gains came amid a broad retreat in global equity markets recently and a weakening of the dollar, with investors turning to oil for exposure to global economic growth. Brent crude for May delivery was up 63 cents at $106.45 a ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln