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Oil prices slip as Libyan production bounces
Source: Geo News | 06-08-2013

SINGAPORE: Oil prices slipped in Asian trade Tuesday as a rebound in Libyan oil production eased concerns about global supply, analysts said.

New York's main contract, West Texas Intermediate for delivery in September, was down four cents at $106.52 a barrel in afternoon trade, and Brent North Sea crude for September shed 13 cents to $108.57.

"Crude retreats as the Libyan exports are expected to resume next month," Kelly Teoh, market strategist at IG Markets in Singapore, said in a note.

Libyan petroleum minister Abdelbari al-Aroussi on Monday said production in the country's western oilfields had resumed after making progress in ending protests at its main shipping terminals.

Libyan oil exports had plunged by more than 70 percent after protesters, including policemen and border guards, forced the terminals to shut over demands for back pay.

Others insisted the chief of security for the terminals withdraw his resignation.

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Source: Geo News | 21-08-2013
 Dollar firms against euro, yen TOKYO: The dollar firmed against the euro and the yen on Wednesday, while India's rupee rebounded from a record low as traders await the release of minutes from the US Federal Reserve's July meeting. Trade was cautious, with analysts expecting the Fed to soon announce the end of its year-long stimulus, which has helped fuel a global equity and forex..... Read more
Source: Tribune | 26-02-2013
Subsidised power supply to KESC illegal: Senate panel A parliamentary panel has suggested that the government should stop 650 megawatts of power supply to Karachi Electric Supply Company (KESC) and has also constituted a sub-committee to probe alleged misappropriation of money in privatisation of the power company. The new committee, headed by Senator Shahi Syed, will also examine claims of delay in depositi..... Read more
Source: Geo News | 08-07-2013
 Asian shares hit by US Fed fear, weak yen lifts Tokyo HONG KONG: Asian markets fell on Monday after a better-than-expected rise in US job creation fuelled concerns the Federal Reserve will soon start to reel in its huge stimulus programme. The dollar edged down a tad after posting strong gains against the yen in New York on Friday following the non-farm payrolls figures, which add to a slew of data ind..... Read more
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