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Brent posts 3rd quarterly loss, premium to US oil lowest since 2011 NEW YORK: Brent crude oil futures fell in choppy trading on Friday to close lower for the third straight quarter, the longest stretch of quarterly declines in 15 years.Trade ended Friday with the premium of Brent to US oil futures at the $5.57 a barrel, the narrowest level since January 2011, marking a near $15 drop in the spread since the start of the year.Growing capacity to ship crude from the Cushing, Oklahoma delivery point for the US oil futures contract has alleviated some of the pressure on West Texas Intermediate crude, allowing it to rebound relative to Brent.Trade of the spread was heavy over the first half of the year when the new pipeline capacity came online as part of industry efforts to realign the market to get booming production from US shale and Canadian oil sands plays to the Gulf Coast refining hub.The US infrastructure changes came against ...

Oil prices slip after strong rallies NEW YORK CITY: Global oil prices fell modestly on Friday after strong rallies this week in a bout of profit-taking ahead of the weekend.New York's main contract, West Texas Intermediate (WTI) light sweet crude for August, closed at $96.56 a barrel, down 49 cents from Thursday.In London trade, Brent North Sea crude for delivery in August shed 66 cents to settle at $102.16 a barrel.The New York benchmark WTI contract fell sharply in late-session trade ...
Iraq makes no purchase in 50,000 tonnes wheat tender HAMBURG: Iraq's state grain board has rejected all offers and made no purchase in an international tender this week seeking to buy at least 50,000 tonnes of wheat, European traders said on Friday.The tender had closed on Sunday and offers had to remain valid until Thursday.A joint submission of Serbian or Hungarian wheat was the lowest offer at $311.67 a tonne c&f free out (ciffo) in the tender, traders said.Traders expected a new tender to ...
ICE raw sugar sinks, as technical selling, delivery weigh NEW YORK/LONDON: ICE raw sugar futures sank on Thursday, under pressure from technical selling and spread-related trade, as a large expected July delivery weighed, while ICE arabica coffee posted its biggest gain since early May on short covering.Cocoa futures closed down, weighed by long liquidation.July raw sugar futures on ICE Futures US were down 0.54 cent, or 3.2 percent, at 16.47 cents a lb.Sugar extended losses after the most-active October ICE contract sank below the ...
Gold sinks below $1,200/oz, lowest in almost 3 years NEW YORK/LONDON: Gold sank over 2 percent to below $1,200 per ounce for the first time in nearly three years on Thursday as investors continued their relentless selling into a ninth straight session, betting on the US Federal Reserve will curb its bond buying.Bullion reversed small earlier gains triggered by a weaker dollar as selling offset tentative signs of bargain hunting. Investors have been shifting money into equities.Without physical demand to offset the exodus from ...
ICE cotton edges up on heat wave concern, demand worry caps gains NEW YORK: Cotton futures edged up on Thursday, consolidating after recent losses and underpinned by expectations an upcoming heat wave across the western United States could reduce output in the world's top exporter.The most-active December cotton contract on ICE Futures US closed up 0.18 cent, or 0.2 percent, at 83.88 cents a lb, its second gain in the past nine sessions.Expectations of hot weather across the western United States prompted worry over cotton-growing conditions and ...
Oil rises amid talk Fed will continue stimulus for now NEW YORK: Crude oil futures rose for a fourth straight session on Thursday, gaining over $1 a barrel, as conviction strengthened that monetary stimulus measures from major central banks would stay in place for the time being.US GDP data on Wednesday that slashed the estimate of first-quarter economic growth and comments from Federal Reserve governors assured investors that the Fed is in no rush to scale back its massive bond-buying program."I think all the markets ...


Index Closing Chg%
Arrow DJIA 17,804.80 0.15
Arrow Nasdaq 4,765.38 0.36
Arrow S&P 2,070.65 0.46
Arrow FTSE 6,545.27 1.23
Arrow DAX 9,786.96 0.25
Arrow CAC-40 4,241.65 0.18
Arrow Nikkei 17,621.40 2.39
Arrow H.Seng 23,116.63 1.25
Arrow Sensex 27,371.84 0.90

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln