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Oil prices steady at end of volatile week LONDON: World oil prices steadied on Friday after Brent crude had this week hit a two-year low point against a backdrop of solid supplies and dampening demand growth.Brent North Sea crude for delivery in November edged up six cents to stand at $97.76 a barrel around midday in London. US benchmark West Texas Intermediate for October eased 22 cents to $92.85 a barrel."Brent is trading somewhat more firmly than a week ago after some extremely volatile days of trading," Commerzbank analysts said in a note to clients.Brent began the week by sliding to $96.21 a barrel, which was the lowest level since July 2012.Oil prices however rebounded sharply on Tuesday after the head of OPEC indicated that the crude producers' cartel could cut its production target for 2015.They headed south once more a day later as a US crude stockpiles report showed a weekly surge of 3.7 million barrels instead ...

Oil drops towards $97 despite talk of lower OPEC output LONDON: Brent crude slipped towards $97 a barrel on Friday, not far above 26-month lows reached at the start of the week, despite signs oil producers may cut production to arrest price falls. Brent hit its lowest point since July 2012 on Monday as oil supply overwhelmed lacklustre demand in Europe and Asia with a glut of high-quality, light oil pushing North Sea crude for immediate delivery to big discounts below futures. But OPEC's secretary-general ...
Oil prices dip LONDON: Crude oil prices eased on Thursday as financial markets focused on Scotland's independent vote, while reacting to US data and uncertainty over OPEC's production outlook.US benchmark West Texas Intermediate for delivery in October dipped eight cents to $94.34 a barrel. Brent North Sea crude for November slipped 12 cents to stand at $98.85 a barrel in London afternoon deals."The nervousness is likely to remain on the market in the short term," said Commerzbank analysts ...
UK gas prompt prices rise, eyes on Scotland and sterling LONDON: Prompt natural gas prices in Britain rose on Thursday morning on the back of an undersupplied system.Prices for within-day delivery were trading at 49.95 pence per therm at 0948 GMT, up 0.95 pence or since their last settlement. Prices for delivery on Friday were up 0.80 pence at 49.80 pence per therm.With supply flows at about 146.7 million cubic metres (mcm) per day on Thursday and demand expected to be about 159.1 mcm, the ...
Oil edges lower below $99, but supply risks in focus LONDON: Oil traded slightly lower below $99 a barrel on Thursday, pressured by ample supply and concern over the weakening of demand growth in major consumer nations, as well as a rise in the U.S. dollar.Threats to supply as Libya's output fell and talk of OPEC production cuts limited the decline for global benchmark Brent, which hit a 26-month low on Monday after data showing a slowdown in China's factory output raised demand concerns."At present, ...
Endesa board approves 8.25 bln eur Enersis stake sale to Enel MADRID: The board of Spanish elecricity firm Endesa on Wednesday approved the sale of its Latin American assets to Italian parent group Enel for 8.25 billion euros (10.7 billion US dollar), the firm said in a statement. The deal, in which Enel will buy the stake of just over 60 percent that Endesa has in Chilean electricity group Enersis , will leave the Spanish group almost entirely focused on its domestic market. Enel, meanwhile, which ...
North Sea Crude Forties weakens at prompt on ample supply LONDON: North Sea Forties crude differentials fell on Wednesday as Vitol sold a prompt cargo, although bidding from Total supported the value of cargoes loading further out. The Brent market remains in contango, indicating ample crude supply in the Atlantic basin, and refinery buying in northwest Europe remains muted despite strong margins. According to Reuters models, the Brent cracking margin in Rotterdam stands at more than $7 a barrel, almost double the average over the ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $16.137 bln