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Europe Gasoline/ Naphtha Cracks rise to near one-month high LONDON: Gasoline refining margins in northwest Europe rose on Wednesday to a near one-month high at around $15 a tonne, supported by exports and expectations of tighter supplies in October While most traders have covered their buying quotas for September, supplies for October appear tight as refinery output is expected to decline due to refinery maintenance."October seems very tight," one trader said. A sharp rise in US gasoline stocks put heavy pressure on the benchmark RBOB gasoline futures, limiting export opportunities from Europe, traders said.Gasoline stocks in the United States rose by 2.4 million barrels to 212.37 million barrels, far exceeding forecasts of a 0.2 million barrel build, the Energy Information Administration reported.Stocks in the US East Coast rose 0.184 million barrels to 57.147 million barrels. Refinery maintenance in Canada's East Coast and problems with crude supply to refineries in the US East Coast have increased arbitrage opportunities from Europe ...

Thermal coal Prices rise, Europe-Australia premium over $10 LONDON: Thermal coal prices rose on Wednesday, reversing some of the previous session's losses, but European coal's premium over the Australian benchmark was still more than $10 a tonne, reflecting concerns about gas supply disruptions to Europe from Russia.European coal cargoes for delivery in October to Amsterdam, Rotterdam and Antwerp (ARA) were shown at $76.50 a tonne on the GLOBALcoal platform, up $0.90 from the previous settlement. The premium over Australian prices is now around ...
Spot inches up as wind output falls further OSLO: Nordic day-ahead power prices inched up on Wednesday on expectations for lower wind power output and slightly higher consumption, analysts said.The day-ahead price for Thursday was set at 34.94 euros ($45.09) per megawatt-hour (MWh) at an auction on the Nord Pool Spot exchange, up from 34.74 euros for Wednesday.The day-ahead contract in the financial market last traded at 35.10 euros/MWh, meaning traders expected slightly higher spot prices."Spot prices firmed on expectations for lower output ...
Brent oil hits 17-month low near $98 on strong supply growth LONDON: Oil dropped to a 17-month low close to $98 a barrel on Wednesday as rising supplies and weak demand helped extend losses into a fifth session, while OPEC lowered the projected demand for its crude and U.S. product stocks jumped.International benchmark Brent crude has fallen by 15 percent since hitting a year high above $115 a barrel in June, with fast-rising U.S. output and the return of exports from Libya creating a market that ...
UK gas prices drop on low demand, cheaper oil LONDON: British wholesale gas prices fell on Wednesday as weak demand left the system slightly oversupplied and cheaper oil weighed on the market, although high gas exports to continental Europe provided some support.Gas for delivery in October traded at 49.05 pence per therm at 0735 GMT, down 0.5 pence on its last settlement, and prices for delivery over the winter 2014/2015 season were down 0.30 pence to 59.10 pence per therm.Gas prices for delivery on ...
Brent hits 16-month low below $99 on strong US supply growth LONDON: Brent crude dropped to a fresh 16-month low below $99 a barrel on Wednesday with rising supplies and weak demand helping extend losses into a fifth session. Brent has fallen by more than 14 percent since hitting a year high above $115 a barrel in June, with fast-rising US output and the return of exports from Libya creating a market that looks increasingly over supplied. While a larger-than-expected drop in weekly US crude stocks ...
Statoil start production at Fram H North and Svalin C OSLO: Norwegian oil and gas firm Statoil has started up production at its Fram H North and Svalin C facilities in the North Sea, it said on Wednesday. Preliminary estimates show that Fram H-North contains about 10 million barrels of recoverable oil equivalents while Svalin C has just over 30 million barrels of oil equivalents. Fram H-North is located in the Troll area and Svalin C is located in the Grane area. Both are part ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln