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Oil prices slump further as weak demand weighs LONDON: Brent oil prices sank Monday to another four-year low on abundant supplies and demand concerns arising from the weak outlook for global economic growth.The market also slid as Iraq became the latest OPEC crude exporter to cut its prices after similar moves by Saudi Arabia and Iran, according to analysts.Brent North Sea crude for delivery in November dived to $88.03 a barrel in Asian trading hours, touching the lowest level since December 1, 2010.In midday London deals, the contract stood at $88.21, down $2 from Friday's closing level.US benchmark West Texas Intermediate (WTI) for November delivery lost $1.38 to $84.44 per barrel. It had slumped on Friday to $83.59, last seen on July 3, 2012."Oil prices remain on the defensive as the new week of trading begins," said Commerzbank analysts in a research note to clients.The global oil market is also tumbling because of plentiful supplies of crude oil.However, ...

UK gas prompt prices fall in well supplied market LONDON: Prompt natural gas prices in Britain fell early on Monday as healthy supplies from Norway and lower demand from gas-fired power generators led to a fairly balanced system.Prices for within-day delivery were trading at 49.80 pence per therm at 0912 GMT, down 1.50 pence since their last settlement. Prices for delivery on Tuesday were down 1.10 pence at 49.45 pence per therm.With supply flows at about 204.7 million cubic metres (mcm) per day on ...
Oil heads for 4-year low on Saudi output signal LONDON: Brent crude oil fell below $88 a barrel on Monday, its lowest in almost four years, after key Middle East producers signalled they would keep output high even if that meant lower prices.Saudi Arabia has privately told oil market participants it can accept oil prices between $80 and $90 a barrel, sources briefed by OPEC's biggest producer have told Reuters.Kuwait's oil minister said on Sunday OPEC was unlikely to cut production to support prices."In ...
Russian oil shift east accelerates, dictated by politics MOSCOW: Russia is diverting more of its crude oil east with deliveries to China hitting a new record last month at the expense of Europe as geopolitical tensions between Moscow and the West dictate the latest shift in flows.As Russia's relations with the West deteriorated over the Ukraine crisis, the European Union and United States imposed wide-ranging sanctions on Russian firms, including oil and gas producers, leaving Moscow trying to forge closer ties with energy-hungry ...
Statoil sells Shah Deniz stake for $2.25bn to Petronas OSLO: Norway's Statoil has sold a 15.5 percent stake in the Azeri gas project Shah Deniz to Malaysia's Petronas for $2.25 billion, the latest asset the firm is selling to protect its cash flow and returns to shareholders. The deal also includes Statoil's stake in the pipeline carrying gas to markets and two related companies.Its second-quarter production from the Shah Deniz field was 38,000 barrels oil equivalent per day, it said. Copyright Reuters, 2014 ...
Shares hit six-month low as growth worries mount LONDON: Global shares fell to a six-month trough and Brent crude futures tumbled to their lowest since 2010 on Friday as investors worried about the prospect of a widespread economic slowdown just as US monetary stimulus nears its end. Assets which depend on economic growth, such as shares and oil, have been hit by a raft of weak indicators from Europe at a time when other big economies, including China, Japan and Brazil face their ...
Oil falls to lowest since 2010 as OPEC ups supplies LONDON: Brent crude oil fell to its lowest since 2010 on Friday, dropping below $90 a barrel as Saudi Arabia said it upped production last month, increasing speculation of an OPEC price war. Fast-rising oil output in North America and tepid economic growth had raised expectations the Organization of the Petroleum Exporting Countries will cut output when it meets in November to stem a near 25 percent price slide since June. But on Friday Saudi ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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