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UK gas prices up in tight market on low nuclear, wind output LONDON: Britain's wholesale natural gas and power prices rose on Wednesday morning as the system was tight due to low pipeline inflows, a drop in wind power output and significant nuclear power outages.Prices for immediate delivery were trading at 39 pence per therm at 0745 GMT, up 0.35 pence or around 1 percent since their last settlement. Prices for delivery on Thursday were up 0.55 pence at 39.15 pence per therm."Lower wind capacity expected Thursday means that gas power stations will have to step in to meet demand, so that's been a bullish factor. Additionally, pipeline flows from Norway remain pretty low due to maintenance work in the North Sea, leaving the system a little undersupplied," one trader said.Meteorologists said they expected British wind power capacity to drop from around 3,000 megawatt (MW) on Wednesday to little more than 1,000 MW on Thursday, with the shortfall expected to be met ...

Brent crude oil falls to 13-month low on strong supplies LONDON: Brent crude oil fell for a fourth straight day on Wednesday to its lowest in more than a year, dropping below $103 a barrel as strong supplies overshadowed fears of disruptions from violence in OPEC member Iraq.The international oil benchmark has fallen 11 percent since mid-June as the surge by Islamic State militants in northern Iraq has yet to lead to any major supply outages, while global crude output has been rising.Exports from Libya ...
Oil price hits nine-month low in London LONDON: Oil prices dropped on Tuesday, with European benchmark Brent falling to a fresh nine-month low point on easing concerns about supply disruptions arising out of conflicts in Ukraine and Iraq. Brent crude for delivery in September hit $103.65 a barrel -- the lowest level since last November. In later midday deals, Brent stood at $103.78 a barrel, down 90 cents compared with Monday's closing level.US benchmark West Texas Intermediate for September dropped 71 cents ...
UK gas prompt ticks up, back end of curve falls LONDON: Prompt wholesale natural gas prices in Britain ticked up on Tuesday morning on a slightly undersupplied system, while the back end of the curve fell as traders sold following a price rally.Day-ahead British gas prices inched up by 0.30 pence to 38.50 pence per therm by 0808 GMT. Gas for immediate delivery was up 0.80 pence at 38.30 pence per therm.Britain's gas system was slightly undersupplied on Monday morning. Demand was forecast at around ...
Oil hits 9-month low on ample supply despite wars LONDON: Brent crude oil fell to around $104 a barrel on Tuesday, touching its lowest level in nine months as steady supplies dispelled concerns over potential disruptions in producers including Iraq and Libya.The International Energy Agency (IEA) said while the situation in several key oil-producing countries "remains more at risk than ever", supplies were ample and the Atlantic Basin was even reported to be facing a glut.OPEC output rose by 300,000 barrels per day (bpd) ...
Benchmark Brent crude bears the scars of more US oil LONDON: Prices for international marker crude Brent have been jolted into a new pattern by booming U.S. crude output reshaping the market in its backyard Atlantic Basin market.The indirect impact of additional U.S. supply on Brent, used to price two-thirds of oil globally, adds to the influence of the U.S. in setting global prices.Brent crude futures are trading at a discount to the following month until January 2015 - a structure known as contango and ...
Oil prices steady amid Iraq air strikes LONDON: Oil prices steadied on Monday as dealers tracked sustained US air strikes on extremist militants in Iraq who are threatening the crude-rich Kurdish region.US benchmark West Texas Intermediate for September delivery rose 15 cents to $97.80 a barrel.Brent crude for September dipped ten cents to stand at $104.92 in London afternoon deals.US President Barack Obama on Thursday ordered his country's warplanes back into Iraqi skies to prevent genocide against besieged religious minority groups and ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln