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Oil prices rally from recent losses LONDON: Oil prices rebounded on Wednesday from the previous day's multi-month lows, as dealers awaited the latest update on crude reserves in top consumer the United States.Gains were capped however by investor caution ahead of the release of minutes from the US Federal Reserve's July monetary policy meeting.In midday deals, Brent North Sea crude for October delivery advanced 40 cents to $101.96 a barrel, one day after hitting a 14-month low on easing geopolitical tensions.New York's West Texas Intermediate (WTI) for delivery in September jumped $1.44 to $95.92.The WTI price had struck a seven-month low Tuesday as speculative traders also sold off ahead of the expiry of the September contract later on Wednesday.The US government's Department of Energy is meanwhile due at 1430 GMT to publish its weekly inventories update for the week ending August 15.American crude oil stockpiles are forecast to have fallen by 900,000 barrels, according to analysts ...


US crude jumps on expiry, Brent rebounds off 14-month low LONDON: US crude oil jumped by more than $1 a barrel ahead of the September contract's expiry on Wednesday, while Brent bounced off a 14-month low to reach $102 as traders bet a 12 percent slide since June was overdone.U.S. crude oil, also known as West Texas Intermediate or WTI, has been pressured by growing supplies of light-sweet oil from the North American shale boom, hitting a 7-month low of $94.26 on Tuesday.But WTI for ...

US crude oil rises on expiry, EIA stock draw LONDON: US crude oil rose by more than $1 a barrel ahead of the September contract's expiry on Wednesday and as crude stocks in the United States posted a sharp fall, while Brent bounced off a 14-month low to reach $102.The U.S. Energy Information Administration said U.S. crude stocks fell by 4.5 million barrels last week, a much larger fall than anticipated, though stocks in the U.S. crude oil delivery hub of Cushing, Oklahoma, rose ...

UK gas prices drop on supply increases LONDON: Natural gas prices in Britain dropped on Wednesday as fresh LNG supply loomed and imports from the Netherlands were higher than expected, traders said.Day-ahead prices fell 2.6 percent to 41.50 pence/therm, while the front-month and winter 2014 contracts lost 2.2 percent and 1.5 percent respectively."BBL flows are nominated at 5 mcm (million cubic metres) but have been very active this morning, delivering around 16 mcm/day," analysts at Thomson Reuters Point Carbon wrote, referring to ...

Mideast crude pushed into deep discounts by African, LATAM supply SINGAPORE: Crude cargoes from Africa and Latin America heading to Asia are butting up against Middle East supply, pushing differentials for October-loading barrels from Gulf producers into deep discounts.With margins persistently low, Asian refiners are also processing less crude, cutting demand as booming U.S. shale oil output is pushing excess oil from the Atlantic Basin and Latin America eastward."The arbitrage will remain open for Asia and then Middle East grades will suffer," a Singapore-based trader ...

Asia Pacific crude weaker; Labuan premium falls SINGAPORE: The Asia-Pacific crude market continued to weaken on Wednesday as the premium for Malaysia's Labuan crude fell on low demand and large arbitrage inflows into the region.Still, some traders said the distillate-rich grade fetched a higher-than-expected premium in a market weighed down by poor refining margins.Malaysia's Petronas sold 300,000 barrels of Labuan crude loading Oct. 13-18 at $5.50-$5.80 a barrel above Dated Brent, traders said.The premium was down from around $6 a barrel for ...

Brent crude oil rebounds off 14-month low towards $102 LONDON: Brent crude oil edged higher towards $102 a barrel on Wednesday, after slumping to a 14-month low in the previous session, as growing output from Iraq and Libya despite violence in those countries has kept the market well supplied.The international oil benchmark has fallen more than 12 percent since hitting a year-high of $115.71 in June. The surge of radical Islamist militants in Iraq that first rattled oil markets has yet to significantly cut ...


 



 
Index Closing Chg%
Arrow DJIA 17,596.35 1.95
Arrow Nasdaq 4,958.47 2.40
Arrow S&P 2,057.64 2.09
Arrow FTSE 6,620.48 1.97
Arrow DAX 11,083.20 3.56
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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%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJune 25, 2015
Reserves $17.457 bln