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Oil above $111 on supply concerns, U.S. stocks weigh LONDON: Brent oil rose above $111 a barrel on Wednesday as unrest in Libya stoked supply fears ahead of northern hemisphere winter demand, but a higher-than-expected build in U.S. crude stocks capped gains.Brent crude gained 45 cents to $111.33 a barrel by 1200 GMT, after settling 12 cents lower on Tuesday. Brent hit a six-week high on Monday at $111.66 on winter supply concerns, after first dropping $3 on the Iran nuclear agreement.U.S. oil fell 43 cents to $93.25 a barrel, extending losses after ending 41 cents down.Libyan oil workers, civil servants and private-sector staff went on strike in the port city of Benghazi as new clashes between the army and Islamists erupted.The military is struggling to curb Islamist militants and militias who fought in the 2011 uprising against Muammar Gaddafi. The violence has reduced oil flow from the OPEC member to a fraction of its capacity."On the supply side ...

Iraqi Kurdish oil exports to Turkey may start by Christmas ANKARA: Oil exports from Iraq's autonomous Kurdistan to Turkey could start next month, the region's prime minister said, despite a dispute with Baghdad over how to divide the spoils from its energy resources.Necirvan Barzani told reporters in Ankara late Tuesday that a pipeline from the Kurdish region could start carrying oil "before Christmas", without elaborating.Barzani was due to meet Prime Minister Recep Tayyip Erdogan and Energy Minister Taner Yildiz on Wednesday for discussions about comprehensive ...
Russia resumes oil exports from Pacific port MOSCOW: Russia's Pacific oil terminal of Kozmino said on Wednesday it has resumed exports of ESPO blend crude oil after a two-day storm ended.The port said that China-bound tanker Hydro is being prepared for oil loadings.It also said November ESPO oil exports fell to 1.8 million tonnes (13 million barrels), while in December they are set to rise to 1.9 million tonnes.Exports of ESPO crude from Kozmino will rise by 10 percent in the first ...
Oil prices retreat slightly LONDON: World oil prices fell on Tuesday as traders weighed up the impact on supplies of Iran's nuclear deal and unrest in Libya, both members of the OPEC producers cartel.New York's main contract, West Texas Intermediate (WTI) for delivery in January fell 31 cents to $93.78 a barrel.Brent North Sea crude for January slipped 19 cents to stand at $110.81 a barrel in late London deals.Crude futures dropped after a volatile day's trading on Monday, ...
UK prompt gas firms, Belgium halt squeezes supply LONDON: British prompt gas prices rose on Tuesday as a halt in flows from Belgium via the Interconnector pipeline tightened an already undersupplied domestic market, despite mild weather forecasts.A market undersupplied by 11 million cubic metres (mcm) of gas propelled the price of gas for immediate delivery up 0.55 pence to 70.10 pence per therm at 1040 GMT.Flows through the UK Interconector gas pipeline dropped to zero at just after 1000 GMT from around 13 ...
Oil rises above $111, Iran sanctions relief unclear LONDON: Oil edged above $111 a barrel on Tuesday as investors judged the historic deal between Iran and world powers would bring no immediate increase in crude oil supplies from the OPEC member.The deal halts Iran's most sensitive nuclear activity and suspends some sanctions by the West, but caps Iran's exports at the current level of about 1 million barrels per day (bpd).That means supply concerns continue to affect the market amid disruptions to oil ...
UK spot gas rises on cold weather, oil weighs on curve LONDON: British gas prices for within-day delivery rose on Monday as a drop in imports from Norway left the market undersupplied, prompting withdrawals from storage sites.The within-day gas contract rose 0.17 pence to 69.60 pence per therm in morning trading, lifted to attract additional supply to meet high demand levels."Gas demand has risen once more today as the UK is going through a deeper spell of cold weather," said one gas trader.British gas demand was ...

 



 
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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 28, 2014
Reserves $13.582 bln