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Oil falls towards $104 on supply, sanctions growth impact worry LONDON: Brent crude oil fell towards $104 a barrel on Thursday as ample supply in global markets was compounded by worries over the impact of trade sanctions on global economic growth.Russia announced a full list of U.S. and EU food imports to be banned in retaliation against Western sanctions over its support for rebels in Ukraine."This continued escalation between the EU, U.S. and Russia over sanctions will be a negative for global econmoic growth," said Olivier Jakob, oil analyst at Petromatrix consultancy in Switzerland.Brent crude oil was down 30 cents at $104.29 a barrel by 0910 GMT, after closing at $104.59 a barrel on Wednesday, its lowest since Nov. 7.U.S. crude was down 30 cents at $96.62 a barrel, after reaching a six-month low of $96.69 in the previous session.Prime Minister Dmitry Medvedev said Russia will ban fruit, vegetables, meat, fish, milk and dairy imports from the United States, the ...

UK gas winter prices rise on Russian supply fears LONDON: British natural gas prices for delivery next winter rose 2 percent early on Thursday on fears that escalating tension between Russia and Europe could lead to disruptions of gas supply later in the year.The Winter 2014 contract traded at 60.61 pence per therm at 0907 GMT, up 1.36 pence on Wednesday's settlement. The September contract was up 1.18 pence to 41.50 pence per therm."Gains on the Winter '14 contract continue to support prices from ...
Oil falls towards $104 on supply, worries over sanctions impact LONDON: Brent crude fell towards $104 a barrel on Thursday as worries over the impact of trade sanctions on global economic growth added to concerns about ample oil supply.Russia announced a full list of U.S. and EU food imports to be banned in retaliation against Western sanctions over its support for rebels in Ukraine."This continued escalation between the EU, U.S. and Russia over sanctions will be a negative for global economic growth," said Olivier Jakob, ...
Statoil's Arctic summer exploration campaign fails OSLO: Statoil has failed to find any oil in its summer campaign in the Norwegian Arctic, an area which the firm has called an "exploration hot spot" with high potential. Statoil said its third well in the Hoop prospect, among the northernmost wells drilled anywhere, showed only a small pocket of uncommercial gas. Two previous wells showed no oil and only small amounts of gas. Oil firms are drilling aggressively in the Norwegian Arctic this ...
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 ...
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 ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln