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Oil prices higher LONDON: Oil prices climbed Thursday as Libyan unrest offset a jump in US crude stockpiles, analysts said.US benchmark West Texas Intermediate for delivery in April added 59 cents to $52.12 a barrel.Brent North Sea crude for April also gained 59 cents to $61.14 a barrel approaching midday in London.The US Department of Energy (DoE) on Wednesday said commercial crude inventories jumped by 10.3 million barrels in the week February 27, higher than analyst forecasts.Inventories have set new records for five straight weeks, and US oil production is already high at 9.3 million barrels per day.Libya's National Oil Corporation meanwhile declared force majeure Wednesday at 11 oil fields after attacks by militants, a legal step protecting it from liability if it cannot fullfil contracts for reasons beyond its control.Libya has been awash with weapons since the 2011 uprising that toppled and killed dictator Moamer Kadhafi, and opposing militias have since been ...


cst premium rebounds on demand despite higher stocks SINGAPORE: The 380-cst cash premium rebounded on Thursday, stemming a two-session fall on demand during cash trading despite higher onshore inventories.The 380-cst cash premium was up 61 cents a tonne, to 77 cents a tonne above Singapore spot quotes, supported by strong buying interest from Hong Kong-listed Brightoil.The company continued to bid for a 40,000-tonne 380-cst cargo at a premium of 50 cents a tonne after buying its first from China Aviation Oil (CAO).Onshore fuel ...

Brent above $61 as Iran news offsets US stockpiles LONDON: Brent crude future prices rose above $61 a barrel on Thursday, as investors brushed aside bearish US inventories data to focus on the lack of a deal in talks over Iran's nuclear programme.Tehran's ambassador to the International Atomic Energy Agency (IAEA) said on Wednesday no deal had been reached on the duration of any possible final agreement with world powers on Iran's programme. That allayed investors' fears of an imminent rise in Iranian oil ...

Margins slip on new supplies from Middle East SINGAPORE: Asian gas oil and jet fuel margins slipped on Thursday on new supplies out of the Middle East, though falls were limited due to a big drawdown in Singapore stocks, traders said.Singapore onshore gas oil and jet fuel stocks plunged 17 percent to a seven-week low of 10.264 million barrels in the week to March 4, according to latest data from International Enterprise.Most of the drawdown was due to a spike in diesel shipments ...

Oil up in Asia trade despite US inventories rise SINGAPORE: Oil prices climbed in Asian trade on Thursday as signs that a refineries strike in the United States is weakening overshadowed a rise in US crude stocks, analysts said.US benchmark West Texas Intermediate added 21 cents to $51.74 a barrel and Brent gained four cents to $60.59 in afternoon trade.Daniel Ang, an investment analyst with Phillip Futures in Singapore, said despite the rise in US inventories, traders focussed on signs that a refineries strike ...

Asian LNG spot price to average $6.25/mmBtu in Q3, $7/mmBtu in 2016 SINGAPORE: Asian spot prices for liquefied natural gas (LNG) are forecast by Goldman Sachs to average $6.25 per million British thermal units (mmBtu) in the third quarter this year and $7 per mmBtu in 2016.Prices of LNG in Asia, the biggest market of the fuel, have tumbled to $7-$8 per mmBtu from above $20 per mmBtu at the beginning of last year in a perfect storm of lower oil prices, new supply coming online and ...

Brent sticks above $60; Iran news offsets bearish US stockpiles data SINGAPORE: Brent crude was flat on Thursday, managing to hold above $60 a barrel as investors brushed aside bearish US inventories data to focus on the lack of a deal in talks over Iran's nuclear programme.Tehran's ambassador to the International Atomic Energy Agency (IAEA) said on Wednesday no deal had been reached on the duration of any possible final agreement with world powers on Iran's programme. That allayed investors' fears of an imminent rise in ...


 



 
IndexClosingChg%
ArrowDJIA 18,096.90 0.58
ArrowNasdaq 4,967.14 0.26
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ArrowDAX 11,390.38 0.98
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ArrowSensex 29,380.73 0.72







ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln