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Brent weakens towards $102 on gloomy China data, strong dollar CHENNAI: Brent crude futures slipped towards $102 a barrel on Thursday as fresh data from China cast doubt on the strength of recovery in the world's second-biggest oil consumer and the dollar weighed on commodity markets.China's factory activity shrank in May, with the preliminary purchasing managers index (PMI) slipping to a seven-month low, reflecting slower local demand as well as headwinds from the United States and the European Union. "China's demand for oil will be impacted because the PMI numbers show that the economy is not doing as well as the market had expected," said Chen Hoay Lee, an investment analyst at Phillip Futures, a Singapore-based commodity brokerage."The weak PMI and the strong dollar will pressure Brent towards the $100 mark in the near term."Front-month Brent futures fell 40 cents to $102.20 per barrel by 0445 GMT, after having dropped more than a dollar in the previous session.US crude dropped ...


Oil drops on gasoline glut, falls more on Fed minutes NEW YORK: Oil prices fell on Wednesday as a rise in US gasoline inventories prompted selling, then crude extended losses in late trading after minutes from a Federal Reserve policy meeting sent US stock markets down.US equities fell in choppy trading, with the Dow briefly down more than 1 percent, after the Fed released minutes of its April 30-May 1 meeting. The minutes indicated a debate over how soon to start scaling back the central ...

Oil falls on inventory report, Fed testimony NEW YORK: Oil prices sank Wednesday following a bearish US oil inventory report and amid speculation that the Federal Reserve quantitative easing program could be curtailed sooner rather than later.The price of US benchmark West Texas Intermediate for July delivery settled at $94.28 per barrel on the New York Mercantile Exchange, down $1.90 from Tuesday.The price of European benchmark Brent North Sea crude for delivery in July closed at $102.60 per barrel in London, a ...

Brent dips towards $103 on US demand worries LONDON: Brent crude oil dropped towards $103 per barrel on Wednesday after data showing a surprise jump in US gasoline stockpiles sparked worries that summer demand in the world's top oil consumer could be weaker than expected.The American Petroleum Institute said late on Tuesday US gasoline inventories rose by 3 million barrels last week, suggesting the US domestic fuel market would be well supplied during the peak driving season.Investors awaited oil inventory figures from the ...

Oil down in Asian trade SINGAPORE: Oil was down in Asia on Wednesday as traders waited for the release of the latest energy inventory report from the United States, analysts said.Weak demand and surging crude stockpiles in the world's biggest economy have put downward pressure on prices and limited gains.New York's main contract, West Texas Intermediate light sweet crude for delivery in July, dropped 48 cents to $95.70 a barrel in the afternoon and Brent North Sea crude for July ...

Oil down in Asian trade SINGAPORE: Oil was down in Asia on Wednesday as traders waited for the release of the latest energy inventory report from the United States, analysts said.Weak demand and surging crude stockpiles in the world's biggest economy have put downward pressure on prices and limited gains.New York's main contract, West Texas Intermediate light sweet crude for delivery in July, dropped 42 cents to $95.76 a barrel and Brent North Sea crude for July delivery shed 32 ...

US natgas futures rise more than 2pc on warm weather NEW YORK: US natural gas futures rose more than 2 percent on Tuesday, extending gains for a third straight session, as warmer weather blanketing much of the nation boosted demand for air conditioning."The natural gas rally continued for yet another session, not a major surge, but a decent three-day rally which is looking more like new buying is starting to come back into the market after two weeks in a row of the speculative community ...


 



 
Index Closing Chg%
Arrow DJIA 16,979.13 0.35
Arrow Nasdaq 4,526.48 0.02
Arrow S&P 1,986.51 0.25
Arrow FTSE 6,755.48 0.35
Arrow DAX 9,314.57 0.21
Arrow CAC-40 4,240.79 0.32
Arrow Nikkei 15,454.45 0.03
Arrow H.Seng 25,159.76 0.15
Arrow Sensex 26,314.29 0.40





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln