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Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Friday, pressured by a stronger dollar as dealers speculated over whether the will Federal Reserve lift interest rates sooner than later, analysts said.US benchmark West Texas Intermediate for December delivery fell 37 cents to $80.75 while Brent crude for December was down 36 cents at $85.88 in afternoon trade. Singapore's United Overseas Bank said crude prices faced downward pressure "as expectations that US interest rates may rise sooner than previously thought pushed the dollar to its highest in more than three weeks".The US Commerce Department on Thursday said the world's largest economy grew at an annualised 3.5 percent in July-September owing to stronger exports and defence spending. The figure exceeded expectations for a 3.0 percent rise. The reading, coupled with upbeat comments about the jobs market from the Fed on Wednesday, stoked speculation that the bank could hike interest rates earlier than its timetabled ...


Crude below $81, set for fourth monthly loss TOKYO: US crude futures edged below $81 a barrel on Friday, extending declines as the dollar rallied on bets of a sooner-than-expected US rate hike, while traders saw little chance of OPEC cutting output at its November meeting.FUNDAMENTALS NYMEX crude for December delivery was down 15 cents at $80.97 a barrel by 0002 GMT, after settling down $1.08 on Thursday.US crude is on course to post a fourth straight monthly decline of around 11 percent.London ...

US oil to revisit low of $79.44 SINGAPORE: US oil is expected to revisit its Oct. 27 low of $79.44 per barrel, as it has completed a rebound from this level.The rebound has been driven by a wave (4), which peaked around $82.63, the 23.6 percent Fibonacci retracement on the fall from the Oct. 1 high of $92.96 to $79.44. A downward wave (5) has travelled below a support at $81.41, the 14.6 percent level, and is progressing towards $79.44.A rise above ...

Brent oil's bearish target at $82.87 resumed SINGAPORE: A bullish target range of $90.51-$92.22 per barrel has been aborted and a bearish target at $82.87 resumed for Brent oil, as it has failed to break a resistance at $86.67 again.The resistance is provided by the 76.4 percent Fibonacci projection level of a downward wave C that developed from the June 19 high of $115.71. The break above this barrier turned out to be false.It is clearer now that the rebound from the ...

Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Friday, pressured by a stronger dollar as dealers speculated over whether the will Federal Reserve lift interest rates sooner than later, analysts said.US benchmark West Texas Intermediate for December delivery fell 16 cents to $80.96 while Brent crude for December was down 31 cents at $85.93 in mid-morning trade. Singapore's United Overseas Bank said crude prices faced downward pressure "as expectations that US interest rates may rise sooner than ...

Brent falls below $86, heads for worst month since 2012 SINGAPORE: Brent crude futures fell below $86 a barrel on Friday as a firmer dollar and a well supplied oil market combined to put the benchmark on course to end October with its steepest monthly decline since 2012.Unless the Organization of the Petroleum Exporting Countries moves to cut oil output at its meeting next month, traders say oil prices, which have dropped by a quarter since June, are likely to extend their rout."We are still ...

Frontier fund selling weighs on UAE, Qatar DUBAI: Selling by foreign frontier funds sparked heavy profit-taking in the United Arab Emirates and Qatar on Thursday. Saudi Arabia also declined, but Egypt rose for a third day. A number of companies from the UAE and Qatar remain part of MSCI's Frontier 100 benchmark even though the index compiler upgraded both countries to emerging market status in May. MSCI's opted to gradually phase those stocks out of the frontier index through monthly weighting reductions ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln