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UK gas prices drop as warmer weather seen for bank holiday weekend LONDON: Natural gas prices in Britain dropped on Thursday morning as warmer weather and pending long weekend lowered demand, leaving the system slightly oversupplied.Gas prices for within day delivery and for Friday were trading at 40 pence per therm at 0830 GMT, down one pence since their last close."The recent spell of relatively cold weather is set to end this weekend, pulling down demand, and because this is the August bank holiday weekend, corporate energy demand will be lower as well, so prices came off in response," one gas trader said.Meteorologists said that average British temperatures are expected to rise from around 12 degrees Celsius on Thursday toward the seasonal norm of 15.5 degrees by the end of the weekend and remain there until at least the first week of September.Falling demand left Britain's gas system slightly oversupplied.British gas demand was expected to be 170.2 million cubic metres (mcm), in ...

Oil falls towards 14-month low near $101 on ample supply LONDON: Brent crude oil fell towards $101 a barrel on Thursday, just above a 14-month low, on plentiful fuel supplies and Chinese economic data pointing to slowing demand.The world's top two crude oil benchmarks have fallen by more than $10 a barrel since June on a build-up of supply in the Atlantic Basin and diminishing worries over the risk that conflicts in the Middle East would hit oil production.Global economic growth also appears to be ...
Oil prices advance on signs of strong US demand LONDON: Global oil prices rebounded Wednesday from the previous day's multi-month lows, as dealers digested signs of strengthening crude demand in top consumer the United States.Gains were capped however by investor caution ahead of the release of minutes from the US Federal Reserve's July monetary policy meeting.In late afternoon trade, Brent North Sea crude for October delivery advanced 22 cents to $101.78 a barrel, one day after hitting a 14-month low on easing geopolitical tensions.New ...
Oil prices rally from recent losses LONDON: Oil prices rebounded on Wednesday from the previous day's multi-month lows, as dealers awaited the latest update on crude reserves in top consumer the United States.Gains were capped however by investor caution ahead of the release of minutes from the US Federal Reserve's July monetary policy meeting.In midday deals, Brent North Sea crude for October delivery advanced 40 cents to $101.96 a barrel, one day after hitting a 14-month low on easing geopolitical tensions.New ...
US crude jumps on expiry, Brent rebounds off 14-month low LONDON: US crude oil jumped by more than $1 a barrel ahead of the September contract's expiry on Wednesday, while Brent bounced off a 14-month low to reach $102 as traders bet a 12 percent slide since June was overdone.U.S. crude oil, also known as West Texas Intermediate or WTI, has been pressured by growing supplies of light-sweet oil from the North American shale boom, hitting a 7-month low of $94.26 on Tuesday.But WTI for ...
US crude oil rises on expiry, EIA stock draw LONDON: US crude oil rose by more than $1 a barrel ahead of the September contract's expiry on Wednesday and as crude stocks in the United States posted a sharp fall, while Brent bounced off a 14-month low to reach $102.The U.S. Energy Information Administration said U.S. crude stocks fell by 4.5 million barrels last week, a much larger fall than anticipated, though stocks in the U.S. crude oil delivery hub of Cushing, Oklahoma, rose ...
UK gas prices drop on supply increases LONDON: Natural gas prices in Britain dropped on Wednesday as fresh LNG supply loomed and imports from the Netherlands were higher than expected, traders said.Day-ahead prices fell 2.6 percent to 41.50 pence/therm, while the front-month and winter 2014 contracts lost 2.2 percent and 1.5 percent respectively."BBL flows are nominated at 5 mcm (million cubic metres) but have been very active this morning, delivering around 16 mcm/day," analysts at Thomson Reuters Point Carbon wrote, referring to ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln