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UK gas prompt prices dip as supplies exceed rising demand LONDON: Prompt natural gas prices in Britain eased on Tuesday, as strong imports and high withdrawals saw supply exceed demand, even with a cold snap causing a surge in fuel needs for heating.National Grid data showed the system was around 14 million cubic metres (mcm) oversupplied, with supply flows at around 380 mcm and demand forecast at around 366 mcm.This was up from seasonal demand norms of around 297 mcm.Gas prices for within-day delivery were down 0.6 percent at 44.40 pence per therm at 0952 GMT.Flows from Norway's Langeled pipeline were 72 mcm, in line with the previous day and near full capacity.Meteorologists forecast temperatures remaining below seasonal norms at between 1 and 4 degrees Celsius this week, before returning to more normal levels."Temperatures are forecast to increase from tomorrow and should approach seasonal norms on the weekend, as a result we expect a noticeable drop in storage withdrawals compared ...

Oil below $49 after IMF cuts growth forecast LONDON: Brent crude oil prices steadied below $49 a barrel on Tuesday after the International Monetary Fund cut its forecast for global economic growth in 2015 implying lower demand for fuel.Global growth is projected at 3.5 percent for 2015 and 3.7 percent for 2016, the IMF said in its latest World Economic Outlook report, reducing its forecast by 0.3 percentage points for both years."New factors supporting growth - lower oil prices, but also depreciation of ...
Oil starts week in negative territory LONDON: World oil prices fell Monday, dented by high global crude inventories, in subdued deals amid a public holiday in the United States, dealers said.In early afternoon London deals, Brent North Sea crude for delivery in March fell 48 cents to trade at $49.69 per barrel. US benchmark West Texas Intermediate for February shed 52 cents to $48.17 a barrel.Trading was expected to remain quiet amid the Martin Luther King Jr holiday in the United ...
Det norske starts up Boeyla oil field in North Sea OSLO: Norwegian energy firm Det norske has started up its Boeyla oil field in the North Sea, expecting to recover 23 million barrels of oil equivalents after a 5 billion crown ($660 million) investment, it said on Monday.The field, produced through subsea equipment and tied to the Alvheim floating production, storage and offloading unit, will produce over 20,000 barrels of oil equivalents at its peak, the firm said.Det norske operates Boeyla and holds 65 percent ...
Gazprom trading unit moving to Russia from London MOSCOW/MILAN: Gazprom's energy trading unit Gazprom Marketing and Trading is moving to St Petersburg from London, Russian news agency Interfax cited sources as saying on Friday. Sources at the Gazprom unit could not immediately confirm the move to Reuters, while a spokesman for the trading venture declined to comment. One source briefed by a member of the Gazprom trading team said sanctions placed on Russia by the West over the course of the past year ...
Gazprom trading unit moving to Russia from London MOSCOW: Gazprom's energy trading unit Gazprom Marketing and Trading is moving to St Petersburg from London, Russian news agency Interfax cited sources as saying on Friday. Sources at the Gazprom unit could not immediately confirm the move to Reuters. Copyright Reuters, 2015 ...
Europe Distillates-Diesel rises as cold, storage spur buying LONDON: Diesel barge differentials in northwest Europe rose on Friday as supplies in the region tightened with stronger demand for storage and due to colder weather. The discount of the front-month February ICE diesel futures to the March contract, in what is known as contango, narrowed on Friday to around 75 cents as prompt buying in the region remains strong. At the same time, refiners and traders have been storing diesel as the contango into ...

 



 
Index Closing Chg%
Arrow DJIA 17,652.60 0.79
Arrow Nasdaq 4,757.88 0.16
Arrow S&P 2,051.82 0.55
Arrow FTSE 6,832.83 0.53
Arrow DAX 10,649.58 2.05
Arrow CAC-40 4,640.69 1.93
Arrow Nikkei 17,511.75 1.05
Arrow H.Seng 24,850.45 1.34
Arrow Sensex 29,278.84 0.94






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln