Oil prices dip slightly as Asia observes public holidaysFebruary 11, 2013 - 10:13 AMT PanARMENIAN.Net - Oil prices dipped slightly Monday, Feb 11, as much of Asia observed public holidays that kept many stock markets closed, The Associated Press reports. Benchmark oil for March delivery fell 7 cents at midday Bangkok time to $95.65 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 11 cents to $95.72 per barrel on the Nymex on Friday. Trading was expected to be light for much of the week with markets shut for Chinese New Year. The U.S. government said Friday that the country's trade deficit fell nearly 21 percent in December from November - the smallest trade deficit in nearly three years - due largely to plunging oil imports. Production of oil is surging in the U.S., lowering the prices of U.S. crude oil. In London, Brent crude, used to price international varieties of oil, fell 15 cents to $118.75 a barrel on the ICE Futures exchange. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. Mkhitaryan raises arrest of former Karabakh leaders in Azerbaijan Inter Milan star Henrikh Mkhitaryan has shared a news story about the extension of the arrest of former Karabakh leaders. |