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Oil prices slide after US-inspired jump LONDON: Oil slid Friday at the end of a tumultuous week, during which prices hit 6.5-year lows on fears over China's slowing but then rebounded on strong US economic growth data.US benchmark West Texas Intermediate (WTI) for October delivery lost 21 cents to $42.35 per barrel.Brent North Sea crude for October dropped 15 cents in early afternoon London deals to $47.41.Both contracts had soared by about 10 percent on Thursday after news the US economy -- the world's biggest followed by number two China -- grew at a better-than-expected annual rate of 3.7 percent in the second quarter."Yesterday's rebound (in oil prices) does of course follow in the wake of the huge, broad-based sell-off in all markets at the start of the week," said SEB analyst Bjarne Schieldrop."When better than expected US GDP data hit the news... yesterday, the equity recovery got additional traction upwards," he added.World stock markets were ...


Lithuania LNG imports could fall to 320-320 mcm in 2016 OSLO: Lithuania is planning to import 35-40 percent less liquefied natural gas (LNG) via its terminal at the Klaipeda port next year due to falling demand, business daily Verslo Zinios reported on Friday. The volumes could decline from a planned 540 million cubic metres (mcm) this year to 320-350 mcm in 2016, the newspaper said, citing sources. Lithuanian LNG importer Litgas has a five-year contract with Norway's Statoil to buy 540 mcm per year, but ...

Oil options calm shows 10pc price surge may be fleeting NEW YORK: As oil prices skyrocketed on Thursday to their biggest daily gain since the aftermath of the financial crisis, the corresponding crude options market remained muted, suggesting most big traders were shrugging off the move as merely a correction in the year-long bear market. A short-covering rally fueled a $4 surge in oil futures markets, yet options dealers described a "passive" day. A key measure of premiums eked out a tiny daily gain, while ...

Middle East Crude: Chinaoil, Mercuria bag 6 more Oman cargoes SINGAPORE: Cash trade in the Middle East crude market accelerated on Friday as sellers sold more cargoes to Chinaoil and Mercuria before the month ends.Six cargoes were sold during the Platts Market on Close (MoC) process, bringing the total for the month to a record 75 cargoes.Chinaoil took five Oman cargoes - three from Unipec and one each from Shell and Vitol, traders said. Shell also sold an Oman cargo to Mercuria, they said.Separately, the ...

Oil prices jump more than 10pc on strong US data NEW YORK: World oil prices surged more than 10 percent Thursday after strong US economic growth data lifted confidence about the world's biggest economy and petroleum user.US benchmark West Texas Intermediate (WTI) for delivery in October jumped $3.96 to $42.56 a barrel.European benchmark Brent oil for October delivery gained $4.42 at $47.56 a barrel in London.Both WTI and Brent closed up 10.3 percent from Wednesday's settlements.US prices had been at or near six-and-a-half year lows ...

Oil prices up in Asian trade SINGAPORE: Oil rose in Asia Thursday as dealers digested a mixed US energy report showing a dip in crude inventories, but barely any decline in production despite sinking prices.US benchmark West Texas Intermediate for October delivery gained 86 cents to $39.46 while Brent crude for October rose $1.07 to $44.21 in late-morning trade.The US Department of Energy said Wednesday US crude supplies unexpectedly fell by 5.5 million barrels for the week ending August 21, indicating ...

Oil dips after mixed US petroleum supply report NEW YORK: Oil prices dipped Wednesday after US petroleum data showed lower crude-oil inventories but barely any decline in production despite sinking prices.US benchmark West Texas Intermediate for October delivery shed 71 cents at $38.60 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for October delivery lost seven cents at $43.14 a barrel in London.Crude supplies in the United States fell by 5.5 million barrels for the week ending August 21, according ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln