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Expiring Brent up in choppy trade, US crude down on supply glut NEW YORK: Brent crude futures edged up in choppy trading as the June contract headed to expiration on Thursday, while U.S. crude prices pulled back as an ample global supply picture weighed on sentiment.Prices, especially Brent's, received support from news that Iran's Revolutionary Guard fired warning shorts over a Singapore-flagged oil products tanker in international waters in the Gulf.Trading was choppy as market participants tried to square bullish factors including U.S. inventory data, spot demand for crude in Asia and Middle East unrest with basic supply fundamentals."The market is really in a pause," said Harry Tchillgurian at BNP Paribas. "The longer the price stays up, the more you invite supply to come back to the market."Expiring Brent June crude was up 19 cents at $67 a barrel at 11:43 a.m. EDT (1543 GMT), having swung from $66.32 to $67.29.July Brent was down 38 cents at $66.89.U.S. June crude was down ...


Oil prices fall back after jolt from Gulf tanker incident LONDON: Oil slipped back below $67 a barrel on Thursday as a market torn between a U.S. stock draw and an overall glut of crude in the Atlantic Basin struggled for direction.Prices were briefly supported by news that Iran's Revolutionary Guard fired warning shorts over a cargo ship in international waters in the Gulf.Trade was in a narrow range as players tried to square bullish factors including the U.S. stocks data, spot demand for crude ...

Oil ends down despite US crude draw; stockpiles still hefty NEW YORK: Oil prices fell after initially rallying on Wednesday as worries about huge supplies weighed on the market despite a second straight week of draws in U.S. crude.Government data showed U.S. oil inventories fell 2.2 million barrels in the week to May 8, to below 485 million barrels, compared with analysts' expectations for a rise of 386,000 barrels. Gasoline and distillate stockpiles also declined.But with stocks at nearly 90 million barrels more than a ...

Oil dips as US refineries slowdown stirs demand worries NEW YORK: Global oil prices dipped Wednesday despite a much bigger-than-expected decline in US crude inventories, as a slowdown at refineries raised concerns about the strength of demand.US benchmark West Texas Intermediate for delivery in June dipped 25 cents to finish at $60.50 a barrel on the New York Mercantile Exchange.Brent North Sea crude for June, a global benchmark, closed at $66.81 a barrel, down five cents from Tuesday's settlement.Prices had surged Tuesday, getting a ...

Oil rises after US crude draw but stockpiles still hefty NEW YORK: Oil prices rose on Wednesday as U.S. crude stockpiles slipped for a second straight week, but traders and analysts said inventories were still hefty for this time of year and could undercut the market's advance.Crude futures have risen between 20 and 25 percent over the past six weeks on signs that increasing demand ahead of the peak U.S. driving season could ease a supply glut.U.S. government data showed oil inventories fell 2.2 million ...

Oil extends gains after US fuel stocks drop LONDON: Brent crude oil rose above $67 a barrel towards five-month highs on Wednesday after US crude stockpiles fell for a second straight week, suggesting the world's biggest oil market is rebalancing. US crude oil stocks fell by 2.2 million barrels to 484.84 million barrels last week, the Energy Information Administration (EIA) said. Stocks at the key delivery hub of Cushing, Oklahoma fell by 990,000 barrels to 60.68 million barrels. "The report is clear cut ...

Oil prices rise LONDON: Oil prices extended gains Wednesday on a weaker dollar and expectations that US crude inventories have further declined, easing concerns about a global supply glut.US benchmark West Texas Intermediate (WTI) for delivery in June added 53 cents to $61.28 a barrel.Brent North Sea crude for June rose 36 cents to stand at $67.22 a barrel around midday in London. Prices had surged on Tuesday owing to a weaker dollar that makes commodities such as ...


 



 
Index Closing Chg%
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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
WeeklyMay 21, 2015
Reserves $17.75 bln