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Oil prices slip as weak newsflow sparks demand worries LONDON: Global oil prices fell on Tuesday as a raft of downbeat company news and economic data sparked fresh concern about the strength of future energy demand, adding to fears over the US debt ceiling, dealers said.   In late afternoon London deals, Brent North Sea crude for delivery in February declined 82 cents to $111.06 a barrel.   New York's main contract, light sweet crude for February or West Texas Intermediate (WTI), reversed 30 cents to $93.84 per barrel.   "Crude oil fell today as disappointing corporate news and mixed economic pointers spooked concerns about demand," said analyst Fawad Razaqzada at trading firm GFT Markets.   "Germany suffered a double whammy as the latest data revealed GDP in Europe's powerhouse contracted 0.5 percent in the final quarter of last year while one of the country's biggest technology companies, SAP, reported results that missed analysts' expectations.   "We did see a better-than-expected rise in US retail sales for December, although ...

Oil rises above $112 on growth, US debt hopes LONDON: Brent crude oil rose above $112 per barrel on Tuesday on optimism that the euro zone economy may finally be stabilising and that the United States may reach a deal to sort out its budget and debt crisis.   The German economy contracted by a larger-than-expected 0.5 percent in the final quarter of 2012, data showed on Tuesday, but most economists expect it to recover in the months ahead, supporting the euro zone.   Federal Reserve Chairman Ben ...
Oil prices stable as traders eye new US pipeline LONDON: Global oil prices steadied on Monday after the completion of a major US pipeline expansion project that will cut oversupplied inventories in the United States, the world's biggest crude consuming nation.   In late afternoon London deals, Brent North Sea crude for delivery in February rose 22 cents to $110.86 a barrel.   New York's main contract, light sweet crude for February or West Texas Intermediate (WTI), eased 23 cents to $93.33 a barrel.   The Seaway Pipeline expansion completed ...
Euro Coal Prompt contracts extend losses, swaps slump LONDON: Prompt physical coal prices fell to a new one-month low on Monday as traders pointed to a supply glut and tepid demand from European utilities.   South African coal for February delivery traded at $84.75 per tonne based on trades of 100,000 tonnes, according to brokers, down $1.35 from Friday's close and the lowest trade since mid-December.   European coal into Amsterdam-Rotterdam-Antwerp (DES ARA) for delivery in February was bid at $83.00 and offered at $84.25, down from ...
Oil rises to $111 on supply concern, growth hopes LONDON: Oil rose to $111 a barrel on Monday, rebounding from the previous session's drop, as concern about supply resurfaced and optimism about demand grew due to signs the world's biggest economies are on their way to a steady recovery.   A cut in Saudi Arabian production last month, pipeline sabotage in Yemen and a weather-related drop in Iraqi shipments have reduced output, while fighting in Syria and Iranian naval exercises in the Strait of Hormuz reminded ...
North Sea Flotta oil loadings to rise in February LONDON: The North Sea Flotta crude oil production stream will load about 43,000 barrels per day in February, up from zero in January, a trade source said on Monday.   This represents two cargoes of 600,000 barrels, loading on Feb. 5 and Feb. 27. The first cargo to load will be one that was deferred from Jan. 16-18.   "It never happened, it became third decade and then it disappeared from the programme," a trade source said. "Production is ...
UK shale gas firm holds talks to sell stake LONDON: UK shale gas-driller Cuadrilla Resources is holding preliminary talks with energy investors to sell a stake in the firm, amid keen interest to develop the country's unconventional gas potential, its Australian owner AJ Lucas said on Monday.   Shares in AJ Lucas rose more than 13 percent to A$2.08 per share on Monday, their highest since March 2011, after it commented on UK newspaper reports over the weekend that Cuadrilla was holding talks with investors.   The Financial ...


Index Closing Chg%
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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
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WeeklyApril 14, 2014
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