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Brent rises above $64 after Yemen oilfield retreat LONDON: Oil prices repaired early losses to rally above $64 on Friday due to the conflict in Yemen. Brent crude was within sight of its 2015 high reached on Thursday and has rallied 16 percent in April, supported by Yemen and the prospect that lower prices are starting to curb US shale output.At 1509 GMT, Brent crude for June was up 25 cents at $64.23 a barrel. It hit a 2015 high of $64.95 on Thursday. US crude for May was down 9 cents at $56.62 a barrel. Military units protecting Yemen's Masila oilfields, the country's largest, withdrew on Friday and handed over security responsibilities to armed local tribes, in a sign of the weakening grip of the Yemeni state over its land and resources. While Yemen is not a major oil producer, the conflict raises concern about risks to supply from major exporters in the region such as its ...

Global LNG: Steady flow of supply caps market upside LONDON: Asian spot liquefied natural gas (LNG) prices for May delivery were steady this week as a smattering of fresh supply and demand was not enough to give the market clear direction. The price of Asian spot cargoes held steady at $7.10 per million British thermal units (mmBtu), in line with the previous week. "It's been fairly static," a trader said, adding that there had been limited activity over the week. South Korea, the world's ...

Oil market slides before weekend LONDON: World oil prices dropped Friday as investors locked in profits following a six-day rally, with a rise in OPEC's output in March also adding to downward pressure, analysts said.Brent North Sea crude for June delivery fell 38 cents to $63.60 per barrel in midday London deals.US benchmark West Texas Intermediate for delivery in May sank 42 cents to $56.68 a barrel."After a sustained increase in both the WTI and Brent over the past week, ...

Canada's oil sands determined to weather price plunge CALGARY: Falling oil prices have slowed the phenomenal expansion of Canada's oil sands extraction trade but the industry remains optimistic it is only a temporary setback.The price of oil fell $60 from June 2014 to January 2015, resulting in a massive budget deficit for the Canadian province of Alberta which will receive Can$7 billion (US$5.7 billion) less in energy royalties this year, forcing the local government to hike taxes and cut services for the first ...

Oil ebbs from 2015 high; OPEC reports jump in output NEW YORK: Global oil prices edged back from a 2015 high on Thursday as traders took some profits from a weeks-long rally and the Organization of the Petroleum Exporting Countries reported a sudden surge in March production.U.S. crude retraced some of the previous day's nearly 6 percent gains that followed government data showing the smallest weekly inventory build since the week ending Jan. 2, suggesting that months of oversupply may be starting to ease.But on ...

Oil turns higher, rallies to 2015 high on Yemen conflict NEW YORK: Crude oil prices jumped to fresh 2015 peaks on Thursday, turning higher on news that a tribal group made up of former Al Qaeda militants took control of a major southern oil terminal in Yemen.The terminal is one of the major hubs for the Hadramout region exporting an average of 120,000 to 140,000 barrels per day (bpd) of crude from fields in the area.While a relatively minor oil producer, Yemen's escalating conflict raises ...

Oil sees sixth day of price gains NEW YORK: Oil prices marked gains for their sixth day running Thursday amid signs that US production, a key driver of the global supply glut, may be on the cusp of easing. West Texas Intermediate for May delivery, the US benchmark, advanced 32 cents to close at $56.71 a barrel on the New York Stock Exchange, a fresh high since December. Global benchmark Brent North Sea crude for June delivery rose 66 cents to settle ...


Index Closing Chg%
Arrow DJIA 17,826.30 1.54
Arrow Nasdaq 4,931.82 1.52
Arrow S&P 2,081.18 1.13
Arrow FTSE 6,994.60 0.93
Arrow DAX 11,688.70 2.58
Arrow CAC-40 5,143.26 1.55
Arrow Nikkei 19,652.88 1.17
Arrow H.Seng 27,653.12 0.31
Arrow Sensex 28,442.10 0.78

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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln