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UK gas wholesale prices firm as concerns about Ukraine mount LONDON: British wholesale gas prices firmed on Wednesday morning, despite ample flows, on concerns that an escalation of the crisis in eastern Ukraine could disrupt natural gas supply.The UK gas system's supply and demand dynamics were bearish on Monday morning but were ignored by the market.Flows were forecast to be 163 million cubic metres a day and demand was seen at 155 mcm, meaning the system was around 8 mcm oversupplied, National Grid data showed.Gas for delivery on Thursday was trading at 38.45 pence per therm at 0909 GMT, 0.50 pence higher than the previous settlement.Traders were concerned about escalating tension in Ukraine and potential disruption to gas flows from Russia to Europe via Ukraine.Polish Prime Minister Donald Tusk said on Wednesday he suspected that the threat of a direct intervention by Russia's military in Ukraine has risen over the last couple of days.Russia has been conducting exercises near the ...

Oil rebounds towards $105 from 9-month closing low LONDON: Brent crude oil rose towards $105 a barrel on Wednesday, bouncing from its lowest close in nine months after industry data showed a large drop in US crude stocks last week.Investors have become increasingly nervous about weak seasonal demand and poor refinery margins in a global market that is well supplied with high quality, light crude oil. "The weakness comes from speculative length, good supplies of crude and a period of weak demand in ...
UK gas prompt prices edge higher on reduced supply LONDON: British prompt gas prices edged up on Tuesday as an outage at a British processing plant and reduced supply from Norway led to an undersupplied system.Gas prices for within-day delivery were trading at 37.85 pence per therm at 0836 GMT, up 1.30 pence on Monday's close. Prices for Wednesday delivery were up 0.25 pence at 37.80 pence per therm.With supply flows at about 156.8 million cubic metres (mcm) per day on Tuesday and demand ...
Oil steady above $105 on geopolitical tension LONDON: Brent crude oil steadied above $105 a barrel on Tuesday as tensions in the Middle East and North Africa balanced ample supply in the Atlantic basin. "The market is stable because of a combination of two things. On the one hand you see geopolitical tensions but on the other hand you see maintenance from refineries and enough supply," said Hans van Cleef, senior energy economist at ABN Amro in Amsterdam. Brent crude was down ...
Lukoil pulls out of three central Europe states MOSCOW: Russia largest private oil producer Lukoil said on Monday it was selling its filling stations in three central European nations as part of an "optimisation" plan that has already seen it pull out of Ukraine.The decision came just weeks after the chief executive of the ambitious firm which produces one-sixth of the country's oil and more than two percent of the world total warned that increasingly tough Western economic sanctions would "have repercussions for ...
Oil prices steady after heavy falls LONDON: Oil prices steadied on Monday following last week's heavy losses.Brent North Sea crude for delivery in September dipped five cents to stand at $104.79 a barrel in London afternoon deals. US benchmark West Texas Intermediate for September gained 14 cents to $98.02 a barrel.New York prices had last week tumbled to their lowest level since early February, with the market awash with supplies, dealers said.The falls erased some of the gains built up in ...
UK gas prompt prices fall on increased supply outlook LONDON: Prompt prices for wholesale natural gas in Britain fell on Monday on prospects for increased supplies in the coming week after maintenance at a Norwegian gas field was completed earlier than planned.Gas prices for next-day delivery were trading at 37.20 pence per therm at 0855 GMT, down 0.65 pence from their last close, while prices for immediate delivery were down by 1.10 pence to 36.90 pence per therm.Last week, Gassco rescheduled maintenance at its ...

 



 
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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 15, 2014
Reserves $14.264 bln