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UK gas prices continue to slide as warm weather reduces demand LONDON: British prices for wholesale natural gas continued to decline on Thursday as higher temperatures reduced demand and healthy supply increased injections into storage.Gas for delivery on Friday was down 0.50 pence from the previous close at 38.00 pence per therm by 0807 GMT, while gas for immediate delivery traded 0.40 pence lower at 38.00 pence per therm.Demand on Thursday was forecast to be 169 million cubic metres (mcm), around 15 mcm below the seasonal norm, as higher temperatures reduced the need for heating.Temperatures in some parts of Britain are seen reaching 25 degrees Celsius on Thursday and Friday, compared to the seasonal norm of around 15 degrees C, meterologists said.Gas flows were 5 mcm above demand, according to the National Grid, creating slight oversupply.A lot of liquefied natural gas is due to arrive in Britain by July 10, carrying enough gas to meet 6.5 days' worth of current daily ...

Brent dips below $111, Libya says oil crisis is over LONDON: Brent crude futures dipped below $111 a barrel on Thursday as supply fears began to ease after Libya declared an end to an oil crisis that has slashed exports from the OPEC member.Libya's government said it had reached a deal with a rebel leader controlling oil ports to hand over the last two terminals and end a blockade, potentially making an extra 500,000 barrels per day (bpd) of crude available for export."The market has ...
Oil prices lower after US data LONDON: Oil prices fell on Wednesday, hit by the prospect of higher Libyan output but losses were capped by a bigger-than-expected drop in US crude inventories and Iraq unrest, analysts said.Brent North Sea crude for delivery in August dropped 71 cents to stand at $111.58 a barrel in late London deals.US benchmark West Texas Intermediate for August slipped 43 cents to $104.91 a barrel compared with Tuesday's close."Brent crude prices have set aside concerns about ...
UK gas prices for winter delivery drop to record lows LONDON: British wholesale natural gas prices for delivery next winter dropped to record lows on Wednesday morning as the country's storage facilities filled further due to low demand, providing a cushion for potential winter supply disruptions.Gas prices for delivery during the upcoming winter 2014/2015 season were trading at 56.35 pence per therm at 0845 GMT on Wednesday, 0.6 pence below their last close and their lowest level since the contract began trading in 2011 and ...
Oil steadies above $112 on supply fears LONDON: Brent crude oil steadied above $112 a barrel on Wednesday as fighting in Iraq heightened concerns over the country's oil production, but rebels in Libya said they would reopen two oil terminals, increasing supply.Brent was down 10 cents a barrel at $112.19 by 0830 GMT. U.S. light crude oil added 5 cents to $105.39.The North Sea crude oil benchmark hit a nine-month intraday high of $115.71 two weeks ago on worries that a insurgency ...
Oil falls towards $111 on possible Libya ports deal LONDON: Oil fell towards $111 a barrel on Wednesday, its lowest in almost three weeks, on a possible substantial recovery in Libyan exports after rebels said they would reopen two oil terminals.Libyan rebels blockading eastern oil ports have agreed to reopen the remaining two terminals at Es Sider and Ras Lanuf. The port seizures have crippled Libya's oil industry since last summer.If fulfilled, the deal would bring back around 500,000 barrels per day (bpd) of ...
Oil market slides on profit taking, Iraq LONDON: World oil prices sank further on Tuesday on profit taking and a lack of developments on the Iraq crisis, analysts said.In late afternoon London deals, Brent crude for delivery in August dived to $112.08 per barrel its lowest level since June 9. It later stood at $112.15, down $1.15 from Monday's closing level.Elsewhere on Friday, US benchmark West Texas Intermediate for August fell 26 cents to $105.11 a barrel."The market continues to suffer from ...

 



 
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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