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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 of $100.53 a barrel. The contract fell as low as $98.68 in the previous session, its lowest since May.The North Sea September benchmark was at $107.41 by 1135 GMT, after hitting an intraday low of $105.59 on Tuesday, the weakest price since early May. The August contract expires on Wednesday.Prices were pushed up by a report that Libya's two main eastern oil ports Es Sider and Ras Lanuf are unlikely to restart crude exports before ...

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 ...
Oil at 3-month low near $106 as supply fears ease LONDON: Brent crude oil slipped towards $106 a barrel on Monday, its lowest for three months, depressed by signs of improving supply from key producers and weak demand in some consuming centres.The North Sea benchmark peaked above $115 last month as an Islamist insurgency swept across western Iraq, taking control of large parts of the oil-producing country including its biggest refinery.The insurgency now holds large swathes of Iraq but is hundreds of kilometres from the ...
UK gas prices rise on reduced domestic gas production LONDON: Wholesale natural gas prices in Britain rose on Monday morning due to undersupply caused by a drop in the amount of gas received by the St Fergus gas terminal from the UK Continental Shelf (UKCS).Prices for delivery on Tuesday were trading at 36.50 pence per therm by 0837 GMT, 2.10 pence, or 6 percent higher, than the previous settlement.Prices for immediate delivery were 0.70 pence higher at 36.50 pence per therm.Britain's gas system was ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln