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Oil slips below $97, hit by dollar strength LONDON: Brent oil slipped below $97 a barrel on Tuesday, hit by dollar strength and ample supply, and was heading for its deepest quarterly drop in more than two years.The dollar surged to a four-year high against a basket of currencies and a two-year high against the euro, making oil more expensive for holders of other currencies.Brent for November delivery was down 33 cents at $96.87 per barrel by 1403 GMT. It has lost nearly 14 percent in the third quarter, its biggest quarterly drop since April-June 2012.U.S. crude was down 84 cents at $93.73 a barrel and was also on track for its biggest quarterly fall since the second quarter of 2012.Firm U.S. and Chinese economic data limited losses, but analysts said that there was still negative momentum due to ample supply and slack demand."The longer term trend is towards a falling price because China is slowing down and ...

Oil prices turn higher LONDON: Global oil prices gained ground Tuesday on expectations of upbeat economic data from the United States, the world's biggest economy and largest consumer of crude.Brent North Sea crude for delivery in November rose 32 cents to stand at $97.51 a barrel in early afternoon deals in London.US benchmark West Texas Intermediate for November added 19 cents to $94.76 a barrel."Market participants will be keeping an eye on the release of the Chicago PMI (manufacturing) ...
UK gas prices rise as nearby demand outpaces supply LONDON: Prompt natural gas prices in Britain rose early on Tuesday as demand narrowly outstripped expected supply with a slight fall in Norwegian flows.Winter prices, however, were weaker, as hopes of a possible agreement between Russia and Ukraine in their dispute over gas supplies weighed on the market.Gas prices for delivery within the day were trading at 51.30 pence per therm at 0935 GMT, up 1.05 pence since their last close, and prices for delivery ...
Oil steadies above $97, supported by US, Chinese data LONDON: Brent oil steadied above $97 a barrel on Tuesday, supported by U.S. and Chinese economic data, but was still set for its deepest quarterly drop in more than two years because of strong supply and a surging dollar.Brent crude has slumped since June, when it hit this year's high of $115.71. Strong supply, a strong dollar and lacklustre economic data drove prices to a 26-month trough last week.Brent for November delivery was up 32 ...
Turkey hikes natural gas prices 9pc from October ISTANBUL: Turkey will hike electricity and natural gas prices by 9 percent from October, Energy Minister Taner Yildiz said on Tuesday, blaming a weaker lira currency for the price hikes in the heavily import-dependent country. The hikes are expected to put further pressure on already stubborn inflation. Much of Turkey's electricity is generated using natural gas, meaning the price rise is likely to have a significant impact on household energy bills.Copyright Reuters, 2014 ...
Brent falls below $97 on weak Chinese data, strong dollar LONDON: Brent oil fell below $97 a barrel on Monday, moving closer to a two-year low hit last week as weak data from major buyer China and a stronger US dollar added to pressure from heavy supply. The international benchmark for crude has fallen from $115 in June as geopolitical tension in the Middle East failed to derail oil output, while concerns about slow demand have grown. Brent for November delivery fell 21 cents to ...
Oil market dips on stronger dollar LONDON: World oil prices slid on Monday as dealers took their cue from the strengthening US dollar, analysts said.Brent North Sea crude for delivery in November shed 53 cents to stand at $96.47 a barrel in London midday deals.US benchmark West Texas Intermediate for November reversed 52 cents to $93.02 a barrel.In foreign exchange activity, the euro struck the lowest level against the dollar for almost two years, slumping to $1.2664 before rebounding.The euro is ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln