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Oil prices steady but indications rally running out of steam SINGAPORE: Crude oil prices were broadly unchanged in early trading on Tuesday, as firm demand supported and ample supply dragged, but analysts said there were signs that a recent rally was running out of steam.Robust demand in Asia as well as due to the driving season in the United States is being met by near record output, especially from the Organization Of Petroleum Exporting Countries (OPEC), although US production seems to have been peaked, at least temporarily.Front-month Brent crude prices were up 6 cents to $65.58 per barrel by 0120 GMT. US crude prices were up 16 cents at $59.88 a barrel.Analysts said that big price spikes away from current levels were unlikely."Crude oil markets were supported by a reported decline in US production and crude oil inventories last week but prices failed to re-test the highs set earlier in the month," ANZ bank said in a note on Tuesday.London-based ...


China end-April commercial crude stocks up 0.5pc on month BEIJING: China's commercial crude oil stocks at the end of April rose 0.5 percent from March, while refined fuel stocks were down 1.8 percent, the official Xinhua News Agency reported on Tuesday.Diesel led the fall in stocks with a 4.4 percent decline, as spring cultivation went into full swing, and industrial, mining and construction operation rates rose, China Oil, Gas & Petrochemicals (OGP), a Xinhua oil and gas newsletter, reported.Gasoline recorded a 3.4 percent rise, ...

Oil prices steady as firm demand offsets dollar strength LONDON: Crude oil futures edged up on Monday as firm global demand vied with a strong dollar, but a public holiday in the United States and much of Europe kept trading muted. Front-month Brent crude gained 6 cents to $65.43 a barrel by 1400 GMT, after touching an intraday low of $64.72. US crude was down 30 cents at $59.42 a barrel, after reaching $59.10 earlier in the session. The market drew support from figures ...

Oil prices gain as firm demand outweighs dollar strength CALGARY: Crude oil futures rose on Monday as firm global demand offset a strong dollar, although a holiday in the United States and much of Europe kept trading muted. Front-month Brent crude gained 53 cents to $65.90 a barrel by 1750 GMT, after touching an intraday low of $64.72. US crude was up 8 cents at $59.80 a barrel. The market drew support from figures showing strong demand across Asia and the United States. "Global ...

Oil prices steady as firm demand offsets dollar strength LONDON: Crude oil futures edged up on Monday as firm global demand vied with a strong dollar, but a public holiday in the United States and much of Europe kept trading muted.Front-month Brent crude gained 6 cents to $65.43 a barrel by 1400 GMT, after touching an intraday low of $64.72. U.S. crude was down 30 cents at $59.42 a barrel, after reaching $59.10 earlier in the session.The market drew support from figures showing strong ...

Iran says OPEC unlikely to change output ceiling: Mehr news agency DUBAI: OPEC is unlikely to change its production ceiling when the group meets in June, Iran's Oil Minister Bijan Zanganeh said on Sunday, according to the semi-official Mehr news agency."Lowering OPEC's production ceiling requires consensus between all members ... under current conditions it seems unlikely that the OPEC production ceiling will change," Zanganeh was quoted as saying.Last month, Zanganeh said the producing group should cut its target daily crude production by at least 5 percent, ...

Oil falls back on profit-taking LONDON: Global oil prices fell on Friday, unwinding recent sharp gains that were fuelled by hopes that a global supply glut could end soon, dealers said.US benchmark West Texas Intermediate (WTI) for delivery in July dipped 36 cents to $60.36 a barrel.Brent North Sea crude for July reversed 45 cents to stand at $66.09 a barrel in London midday deals."Crude oil prices are retreating today, seemingly on profit-taking ahead of the long weekend," said analyst ...


 



 
IndexClosingChg%
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ArrowDAX 11,815.01 0.42
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln