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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 concerns about neighboring top oil exporter Saudi Arabia.Brent crude for June delivery rose 66 cents to settle at $63.98 a barrel, rallying from a $62.00 low and reaching a 2015 peak for front-month Brent of $64.95.U.S. May crude rose 32 cents to settle at $56.71, hitting a 2015 high of $57.42 after recovering from a $55.07 intraday low.Brent's premium to U.S. crude was back above $5 a barrel, now comparing June contracts, after the spread ...


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 ...

Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asia Thursday, retaining support from a surprisingly upbeat US supply report a day earlier, analysts said. US benchmark West Texas Intermediate (WTI) for May delivery gained six cents to $56.45 while Brent crude for June slipped 14 cents to $63.18 in afternoon trade. On Wednesday WTI jumped $3.10 to $56.39, its highest closing price since December 23, while Brent crude for May shot up $1.89 to $60.32 on its ...

Oil surges after lower than expected US inventory rise NEW YORK: Oil prices rallied and US crude jumped nearly 6 percent to a 2015 peak on Wednesday after government data showed crude oil inventories in the United States rose less than expected last week. Though hitting a record level for a 14th consecutive week, US crude inventories rose only 1.3 million barrels to 483.69 million, the smallest build since the week ending Jan. 2, the Energy Information Administration said on Wednesday. That build was ...

Heavy grades tighten to match multi-month highs CALGARY: Canadian heavy crude differentials tightened on Wednesday as the April trading cycle started to wind down, with prices buoyed by strong refinery demand and good access to markets in the United States. Canada exported 3.2 million barrels per day of crude to the United States in the week ended April 10, according to the US Energy Information Administration. Western Canada Select heavy blend for May delivery last traded at $11.30 per barrel below the ...

Oil climbs for 5th day as US output edges lower NEW YORK: US oil prices shot up to a 2015 peak Wednesday after a slight dip in US oil production sparked talk that the glutted petroleum market could be turning.US benchmark West Texas Intermediate for May delivery jumped $3.10 to $56.39 a barrel on the New York Mercantile Exchange, the highest closing price since December 23.European benchmark Brent oil for delivery in May rose $1.89 to $60.32 a barrel in London.The gains extended a market ...

Oil market jumps on hopes of easing global supply glut LONDON: World oil prices shot higher Wednesday on forecasts that US shale production would likely drop and help ease a global supply glut, analysts said.US benchmark West Texas Intermediate for delivery in May rallied to a two-month peak at $54.25 per barrel, before pulling back to $53.89, up 60 cents from Tuesday's close.Brent North Sea crude for May hit a three-week high at $59.63 a barrel. It later stood at $59.16 in midday deals, up ...


 



 
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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%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln