Business Turkey

  • *Turkey, Syria fighting reinforces worry over Middle East supply. NEW YORK, Oct 11- Oil prices rose on Thursday to their highest levels in weeks as tensions between Syria and Turkey escalated, while maintenance on North Sea oilfields pushed the premium for Europe's Brent crude to another one-year high.

  • POPPING CORN: Corn jumped 5 percent after the government predicted that the U.S. harvest will produce about 10.7 billion bushels, which would be the smallest in six years. SUPPLY QUESTIONS: Oil rose on questions about whether supplies from the Middle East could be disrupted by tensions between Turkey and Syria.

  • Corn for December delivery rose 36.5 cents to finish at $7.7325 per bushel. The U.S. Agriculture Department predicted that the corn harvest would total about 10.7 billion bushels, which would be the smallest since 2006. The yield was forecast at an average of 122 bushels per acre, which would be the lowest since 1995..

  • NEW YORK, Oct 11- U.S. crude futures rose on Thursday as tensions between Turkey and Syria and between Iran and the West continued to reinforce concerns about the risk to oil supply from the Middle East.

  • *Turkey, Syria fighting reinforces worry over Middle East supply. NEW YORK, Oct 11- Oil prices rose on Thursday as tensions between Syria and Turkey escalate, reinforcing concerns about risks to the region's supply, and maintenance curbs on North Sea output continue.

  • The data strengthened hopes that credit rating agencies could upgrade soon upgrade Turkey's rating. Turkey's August current account deficit fell to $1.18 billion, its lowest level since October 2009, central bank data showed, and was smaller than a Reuters poll forecast for a deficit of $1.750 billion.

  • BAKU/ LONDON, Oct 11- Azerbaijan accused BP on Wednesday of making "false promises" on oil output and said the state had missed out on $8 billion of potential revenues from what is one of the company's biggest projects in the world.

  • Oil prices rose Thursday as tension between Turkey and Syria raised concerns that crude oil supplies from the Middle East could be disrupted. On Thursday, Turkey claimed that it forced a Syrian passenger plane to land because it was carrying banned cargo from Russia.

  • NEW YORK, Oct 11- Brent crude held and U.S. crude futures pared gains in choppy trading on Thursday on a report from the U.S. Energy Information Administration showing crude inventories rose in the United States last week, after oil prices had been lifted earlier by heightened tensions between Turkey and Syria.

  • MOSCOW, Oct 11- Russian stocks edged up on Thursday, shrugging off morning losses as escalating tension over Syria pushed up oil prices, which also helped lift the rouble and Russian bond prices. Russia's markets were lifted by a rising oil price, on a day when Turkey intercepted a Russian plane bound for Syria, provoking a diplomatic row between Moscow and Ankara.

  • KAYSERI, Turkey, Oct 11- Syria had stopped electricity imports from Turkey while it repairs its power network and there is no political reason for the interruption of the supplies, which last year met a fifth of Syrian needs, Turkish officials said.

  • *Turkey, Syria fighting stokes concern over Mideast supply. LONDON, Oct 11- Brent crude oil reached its highest in a month on Thursday, lifted by escalating tension between Syria and Turkey, maintenance in the North Sea and a supply crunch in oil products.

  • BAKU, Azerbaijan-- Azerbaijan's President Ilham Aliev has criticized a consortium led by BP PLC for a slump in production at the Caspian Sea nation's main oil field. A spokesperson for BP Azerbaijan said the company is working together with Azerbaijan's state oil company to address production issues.

  • Oct 11- Cotton prices extended losses in early trade on Thursday after the U.S. government raised its inventory forecast for the season to end-July 2013 to a new record of close to 80 million 480- lb bales, reinforcing concerns about falling demand from China, the world's largest textile market.

  • Hungary dipped 13 percent to 46.54 euros on Hungary's HUPX. The three central European countries combined their day ahead markets in September to help provide better supply for the region but since then Hungary has helped to narrow- and often erase- the typical Czech and Slovak discount to Germany.

  • BAKU/ LONDON, Oct 11- Azerbaijan accused BP on Wednesday of making "false promises" on oil output and said the state had missed out on $8 billion of potential revenues from what is one of the company's biggest projects in the world.

  • BAKU/ LONDON, Oct 11- Azerbaijan accused BP on Wednesday of making "false promises" on oil output and said the state had missed out on $8 billion of potential revenues from what is one of the company's biggest projects in the world.

  • Crude futures were up ahead of the data on heightened tensions between Turkey and Syria and the potential threat to oil supply in the region. Brent crude was up $1.10 at $115.43 a barrel at 8:45 a.m. EDT, having traded from $114.42 to $115.59. U.S. crude was up $1.24 at $92.49 a barrel, having traded from $91.09 to $92.70.

  • ISTANBUL, Oct 11- Turkey's current account deficit fell in August to its lowest level since October 2009, central bank data showed on Thursday, due mainly to a rise in gold exports and a slowing economy.

  • KAYSERI, Turkey, Oct 11- Turkey said on Thursday it had stopped supplying Syria with electricity, but officials said the decision was due to problems with its neighbour's network and not a political decision to cut it off.