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Oil market dips on stronger dollar LONDON: World oil prices slid on Monday as dealers took their cue from the strengthening US dollar, analysts said.Brent North Sea crude for delivery in November shed 53 cents to stand at $96.47 a barrel in London midday deals.US benchmark West Texas Intermediate for November reversed 52 cents to $93.02 a barrel.In foreign exchange activity, the euro struck the lowest level against the dollar for almost two years, slumping to $1.2664 before rebounding.The euro is coming under pressure from concerns about weak eurozone growth, while the dollar is benefiting from US Federal Reserve plans to bring to a stop its stimulus programme in October. "The stronger US dollar is not helping oil prices at the moment," David Lennox, resource analyst at Fat Prophets in Sydney, told AFP. "It's pretty quiet at the moment and the oil market just seems happy to drift along," he added.The greenback was also buoyed by ...

UK gas prices fall on rising North Sea supplies LONDON: Natural gas and power prices in Britain dropped on Monday morning as mild weather and a rise in imports of Norwegian gas and in power generation capacity left the system well supplied.Gas prices for delivery within the day were trading at 49.25 pence per therm at 0830 GMT, down 0.75 pence since their last close, and prices for delivery on Tuesday were down 0.55 pence to 49.20 pence a therm.The lower prices were largely ...
Brent falls below $97 on weak Chinese data, strong dollar LONDON: Brent crude oil fell below $97 a barrel on Monday, moving closer to a two-year low hit last week as weak data from major buyer China and a stronger U.S. dollar added to pressure from strong supplies.The international oil benchmark has fallen from $115 in June as geopolitical tension in the Middle East failed to derail petroleum output, while concerns about slow demand have grown.Brent for November delivery fell 61 cents to $96.39 a ...
Statoil makes uncommercial gas find in Arctic OSLO: Energy firm Statoil has made a disappointing gas find in the Arctic, continuing an unsuccessful run of exploration drilling in the Norwegian part of the region, an area Statoil has called an "exploration hot spot" with high potential.The company said it found between 5 billion and 20 billion standard cubic metres of gas or 30 million to 120 million barrels of oil recoverable equivalent at the Pingvin prospect, a discovery it assessed as non-commercial."For ...
Brent drops below $97 on rising supply LONDON: Brent crude fell below $97 a barrel on Friday and headed for its biggest monthly drop since April 2013 as rising supplies outweighed fears that US-led strikes against militants in Syria and Iraq would disrupt oil production. Slowing economic activity in Europe and Asia has dampened demand for oil, while supply is on the rise. Libya's output has reached 925,000 barrels per day (bpd), the highest level since militias turned on each after the ...
Oil holds near $97, supplies counter disruption fears LONDON: Brent crude held near $97 a barrel on Friday but headed for its biggest monthly drop since April 2013 as rising supplies outweighed fears that US-led strikes against militants in Syria and Iraq would disrupt oil production. Slowing economic activity in Europe and Asia has dampened demand for oil, while supply is on the rise. Libya's output has reached 925,000 barrels per day (bpd), the highest since militias turned on each other after the ...
Oil recovers to $97 on Middle East tension LONDON: Brent crude oil recovered from early losses to trade above $97 a barrel on Thursday as concerns about potential supply disruptions in the Middle East helped the market recover from a two-year low.But prices were not far from the lows reached the previous day as abundant supply and a strong dollar largely outweighed concerns about threats to supply from the unrest.Brent gained 45 cents to $97.40 a barrel by 1224 GMT. It had hit ...

 



 
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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 20, 2014
Reserves $13.436 bln