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Brent slips towards $108.50 on stock build, fall in US crude SINGAPORE: Brent slipped towards $108.50 a barrel on Wednesday, dragged down by a near $1 drop in US crude as inventories in the United States were expected to hit the highest level on record.A Reuters poll of analysts revealed expectations that US crude stocks rose 2.4 million barrels to 400 million barrels last week, the highest level since the US Energy Information Administration started collecting data in 1982. The poll was taken ahead of the EIA weekly inventory data due out later on Wednesday. Brent crude for June delivery fell 27 cents to $108.71 per barrel by 0420 GMT after climbing 86 cents to $108.98 in the previous session. June US crude dropped 80 cents to $100.48 per barrel after falling by as much as 93 cents in early trade on Wednesday.This reversed Tuesday's gain when US crude rose 44 cents to close at $101.28 per barrel. The fall in ...


Crude prices down in Asian trade SINGAPORE: Oil prices eased in Asian trade Wednesday on expectations of another increase in US crude stockpiles, which would suggest weak demand in the world's biggest economy.New York's West Texas Intermediate (WTI) for June delivery dropped 80 cents to $100.48 in afternoon trade, and Brent North Sea crude for June eased 32 cents to $108.66.Analysts expect data due later Wednesday to show US crude stockpiles rose by 2.2 million barrels last week, according to a ...

Sinopec, Huadian to take combined 15pc stake in Canada LNG project HONG KONG: China Petrochemical Corp (Sinopec Group) said on Wednesday it and state-owned power group China Huadian Corp have agreed to take a combined 15 percent stake in a liquefied natural gas (LNG) project controlled by Malaysian state oil firm Petronas in Canada. Sinopec Group will hold 10 percent of the Pacific Northwest LNG project on Canada's Pacific Coast, while Huadian will have 5 percent after the transaction, it said in a statement. Sinopec Group ...

Crude prices down in Asian trade SINGAPORE: Oil prices eased in Asian trade Wednesday on expectations of another increase in US crude stockpiles which would suggest weak demand in the world's biggest economy.New York's West Texas Intermediate (WTI) for June delivery dropped 88 cents to $100.40 in mid-morning trade, and Brent North Sea crude for June eased 35 cents to $108.63.Analysts expect data due Wednesday to show US crude stockpiles rose by 2.2 million barrels last week, according to a Wall ...

Oil rebounds as geopolitical concerns resurface NEW YORK: Oil prices rose on Tuesday as traders refocused on geopolitical risks from an outbreak of violence in Libya to Russia's intervention in Ukraine.On Monday, oil posted its biggest daily decline in a month, when Libya lifted a force majeure from the eastern Zueitina oil port, raising prospects for rising shipments.But on Tuesday, gunmen stormed Libya's parliament, wounding several people, while a suicide bomber in a car killed at least two people and wounded ...

Statoil reports profit jump with higher prices and cost cuts OSLO: Norwegian oil giant Statoil almost quadrupled its first quarter profits, the group announced on Tuesday, thanks to higher oil and gas prices and lower expenditure. Profits leaped to 23.6 billion kroner ($3.94 billion, 2.84 billion euros) compared to 6.4 billion kroner a year previouslyDespite a one-percent drop in production, the company said it benefited from higher oil prices and good results from its US gas operations. The increased profits were also due to a ...

Oil rebounds towards $109 although sanctions response muted LONDON: Oil rebounded towards $109 a barrel on Tuesday a day after prospects of a return of Libyan supply prompted its biggest daily fall in nearly a month although investors showed muted response to more US sanctions on Russia. Libya's National Oil Corp (NOC) said on Monday it planned to lift force majeure from the eastern oil port of Zueitina, offering hope of a restart to exports at a second port after a deal with ...


 



 
Index Closing Chg%
Arrow DJIA 17,131.97 0.59
Arrow Nasdaq 4,552.76 0.75
Arrow S&P 1,998.98 0.75
Arrow FTSE 6,792.24 0.18
Arrow DAX 9,632.93 0.28
Arrow CAC-40 4,409.15 0.44
Arrow Nikkei 15,911.53 0.23
Arrow H.Seng 24,136.01 0.91
Arrow Sensex 26,492.51 1.21





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln