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UK gas near-term prices weaker on oversupply LONDON: Wholesale natural gas prices in Britain were lower on Wednesday as supply continued to exceed demand.The front-month futures lost 0.4 percent to 37.20 pence/therm in early trade, while the day-ahead contract had not traded at the time of writing but was bid at 36.85 pence, 0.15 pence below Tuesday's settlement."A long system and higher forecasted UKCS (UK Continental Shelf) flows for today are the two bearish factors for the day-ahead contract," analysts at Thomson Reuters Point Carbon said in a morning note.The British gas system was estimated to be oversupplied by around 10 million cubic metres (mcm) on Wednesday, according to the National Grid, with demand for the day forecast at 168.8 mcm.The system has been oversupplied for most of the year so far due to mild weather, regular imports and ample inventories.UKCS flows were at 123 mcm/day early on Wednesday, 5-6 mcm higher than what was nominated for ...

Brent firm above $107; strong dollar offsets global tensions LONDON: Brent crude steadied above $107 a barrel on Wednesday as a stronger dollar and weak demand offset threats to supplies from oil-producing regions.The European Union threatened Russia with harsher sanctions on Tuesday after the downing of the Malaysian airliner in Ukraine, straining the EU's relationship with the world's second-largest oil exporter."When the U.S. and the EU impose more sanctions on Russia, that will impact the mid-term production profile of the Russian oil industry," said ...
Russian gasoline exports down 15.4pc in June vs May MOSCOW: Russian gasoline and fuel oil exports in June fell by 15.4 percent and 2.0 percent, respectively, on a daily basis from May, while gas oil exports were up by 6.1 percent, data from the Energy Ministry and Reuters showed. Russia's domestic supplies of gasoline and fuel oil increased by 6.3 percent and 6.4 percent, respectively, while local shipments of gas oil grew by 3.6 percent.According to the market sources, major refineries cut their gasoline ...
Oil prices rise on geopolitical tensions LONDON: Oil prices rose on Tuesday on geopolitical tensions fuelled by a warning of tougher sanctions against Russia and fierce fighting in Gaza, traders said.Brent North Sea crude for delivery in September climbed 64 cents to stand at $108.32 a barrel in London midday deals.US benchmark West Texas Intermediate (WTI) for August increased 34 cents to $104.93 a barrel compared with Monday's closing value."The crises in Ukraine and the Gaza Strip, coupled with the risk ...
UK gas prices decline as reduced demand leads to over supply LONDON: Wholesale natural gas prices in Britain fell on Tuesday as weak demand for gas due to warm weather led to oversupply.Gas prices for day-ahead delivery were trading at 37.15 pence per therm at 0832 GMT, down 0.20 pence from Monday's close.Prices for within-day delivery were 0.75 pence lower at 37.10 pence per therm.Demand for gas was forecast to be at 165 million cubic metres on Tuesday, 14 mcm below seasonal normal demand. Flows were ...
Oil steadies around $108; focus on Ukraine, US stockpiles LONDON: Brent crude steadied around $108 a barrel on Tuesday, supported by expectations of large draws in U.S. oil stockpiles and escalating geopolitical tension over Ukraine causing European foreign ministers to consider further sanctions on Russia.European foreign ministers meet in Brussels on Tuesday and Britain, Germany and France may be prepared to increase sanctions against Russia, the world's top crude producer."The talks about potential new sanctions against Russia can add risk premium to the oil ...
Oil prices slide further LONDON: Global oil prices fell further on Monday on concern about an escalation of the Ukraine crisis after the downing of a Malaysian airliner last week, analysts said.Investors were also eyeing developments in the Middle East after Israel launched a ground offensive against Hamas militants in Gaza, fuelling worries about crude supplies from the oil-rich region.Brent North Sea for delivery in September fell 30 cents to $106.94 a barrel in London midday deals.New York's benchmark ...

 



 
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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