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Oil prices down in Asian trade SINGAPORE: Oil prices slipped in Asian trade Thursday as dealers squared their positions after a rally spurred in part by hopes of a resolution to the Ukraine conflict.US benchmark West Texas Intermediate for October delivery fell 67 cents to $95.87 while Brent crude for October eased 64 cents to $102.13 in afternoon trade. "We are seeing a continuation of a trend where there is a reversal in Asia-Pacific trading of certain impulse moves in the prior trading session," Michael McCarthy, chief market strategist at CMC Markets in Sydney, told AFP. WTI gained $2.66 in New York trade Wednesday, recovering from a more than $3 drop the prior day, as Russian President Vladimir Putin unveiled a peace plan for Ukraine to end the months-long conflict that has claimed some 2,600 lives. Brent jumped $2.43 in London trade to $102.77, coming back from a fall Tuesday to its lowest level since May ...


Oil gains more than $2, Brent rebounds from 16-month low NEW YORK: Crude oil prices jumped by more than $2 a barrel on Wednesday off multimonth lows as the prospect of peace talks between Ukraine and Russia combined with strong US economic data to raise demand expectations. New orders for US factory goods jumped in July and automobile sales in August were unexpectedly robust, offering further signs of strength in the manufacturing sector. President Vladimir Putin outlined plans for a ceasefire in eastern Ukraine on ...

US oil may end rebound around $96.09 SINGAPORE: US oil may end its sharp rebound from the Sept. 2 low of $92.68 around resistance at $96.09 per barrel, as indicated by its wave pattern and a Fibonacci retracement analysis.The rebound has been considered an extension of a three-wave cycle that developed from the Aug. 21 low of $92.50. Driven by a wave c, the rebound may end around $96.09, the 23.6 percent Fibonacci retracement on the fall from the July 22 high ...

Oil prices down in Asian trade SINGAPORE: Oil prices slipped in Asian trade Thursday as dealers squared their positions after a rally spurred in part by hopes of a resolution to the Ukraine conflict.US benchmark West Texas Intermediate for October delivery fell 40 cents to $95.14 while Brent crude for October eased 55 cents to $102.22 in late-morning trade. "We are seeing a continuation of a trend where there is a reversal in Asia-Pacific trading of certain impulse moves in the ...

Brent oil to retrace to $101.38 SINGAPORE: Brent oil is expected to retrace to $101.38 per barrel, as it failed to break resistance at $103.34.The resistance has been identified as the 38.2 percentFibonacci retracement on a five-wave cycle that developed from the July 25 high of $108.46. A correction towards the 14.6 percent level of $101.38 could have been triggered.A break below $101.38 could cause a further loss to $100.17, while a break above $103.34 will open the way towards $104.32, ...

Oil rallies as Ukraine hopes lift sentiment NEW YORK: World oil prices rebounded Wednesday following the prior day's heavy losses in a rally spurred in part by hopes for a resolution to the Ukraine conflict.US benchmark West Texas Intermediate for October delivery gained $2.66 to close at $95.54 on the New York Mercantile Exchange, largely recovering from a more than $3 drop the prior day.European benchmark Brent oil for delivery in October jumped $2.43 to $102.77 a barrel in London, coming back ...

Somalia accuses Norwegian oil explorer DNO of destabilising country NAIROBI: Norwegian oil company DNO and other small explorers are destabilising Somalia, the African country's petroleum ministry said on Wednesday, warning it may lodge complaints against these firms to the United Nations Security Council.DNO has been prospecting for oil in Somaliland, a break-away territory of Somalia. The company did not respond to telephone and email requests for comment but in July a senior official said DNO would not engage in any activities that threaten peace ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln