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UK gas winter prices continue to bounce back from record lows LONDON: British natural gas prices for delivery next winter continued to rebound from recent record lows on Thursday morning as analysts pointed to an increase in demand at the end of the year.British gas for winter 2014 traded at 57.90 pence per therm at 0840 GMT, up 1.18 pence on Wednesday's settlement.The contract is now up almost 6 percent since hitting a record low of 54.70 pence per therm on July 11."The winter (contract) was looking a little oversold at the lows and that has triggered some buying," a gas trader said.Meanwhile, analysts at Energy Aspects said in a research note published late on Wednesday that demand for UK gas in the winter months could increase."In Q4 14 and Q1 15, gas demand is expected to increase y/y on the back of a colder winter," the analysts said."Demand from the power sector also remains an upside risk in the UK. ...

Oil market enjoys China-inspired gains LONDON: Global oil prices rebounded on Wednesday as traders seized on news of stronger-than-expected economic growth in top energy consumer China.Brent North Sea for delivery in August rose 33 cents to $106.35 a barrel in London early afternoon deals.New York's benchmark West Texas Intermediate for August gained 75 cents to $100.71 per barrel from Tuesday's closing level."Robust Chinese economic data offered some support to the oil market ... today, increasing hopes about a rebound of ...
Oil rises on delayed Libyan port restarts, improved China growth LONDON: US September crude prices gained a dollar to over $100.50 a barrel on Wednesday as data from China showed its economy grew faster than expected and a Libyan official said two main eastern oil ports would unlikely export before August.China's improving outlook and the delayed Libyan port restart ended oil's longest losing streak since 2010 which had pulled Brent down more than 8 percent since mid-June.U.S. September crude gained a dollar to a high ...
UK gas spot prices dip on oversupply LONDON: Spot wholesale natural gas prices in Britain dipped for a second day on Wednesday as an oversupplied system and the prospect of more gas arriving via sea weighed on the market.Day-ahead NBP gas was down 0.5 percent at 36.50 pence/therm by 0833 GMT, approaching the four-year low of 34.40 pence hit last Friday."Most of the drivers for today are either sideways bearish or sideways bullish," said analysts at Thomson Reuters Point Carbon.On the bearish ...
Australia shares close flat, miners offset losses among banks SYDNEY: Australian shares added 0.1 percent on Wednesday, with gains in big miners underpinned by improving iron ore prices and a slight pick-up in Chinese GDP offsetting worries, though sentiment was dampened as Wall Street fell the day before. The S&P/ASX 200 index added 7.6 points to 5,518.9 at the close of trade.The benchmark finished flat on Tuesday. Boart Longyear slumped 34.8 percent to a record low of A$0.088 after the company said it had ...
UK gas prices ease after return of St Fergus gas terminal LONDON: Wholesale natural gas prices in Britain dropped on Tuesday morning due to a return to production of North Sea gas fields that went into an unplanned outage the previous day.Gas prices for delivery within the day were trading at 36.25 pence per therm at 0820 GMT on Tuesday, down 1.6 pence since their last close, and prices for delivery the next day were down 1.05 pence to 36.10 pence a therm.Traders said the price ...
Brent oil slips below $106.50, ample supplies outweigh Libya strife LONDON: Brent crude oil slipped below $106.50 a barrel on Tuesday as easing concerns over global supplies offset the impact of renewed violence in Libya.A Libyan militia shelled Tripoli airport, destroying 90 percent of planes parked there as renewed fighting between armed groups prompted the United Nations to pull its staff out of the North African OPEC producer.The latest violence came as oil output from Libya rose to nearly 500,000 barrels per day (bpd) after ...


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Foreign Debt $60.9bn
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WeeklyJuly 10, 2014
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