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US oil to drop to $81.70 SINGAPORE: US oil may retrace to $81.70 per barrel, as indicated by its wave pattern and a Fibonacci retracement analysis.A five-wave cycle from the Sept. 30 high of $94.90 has not completed. The gain from the Oct. 16 low of $79.78 was driven by the fourth wave, which failed to extend above a resistance at $84.81, the 38.2 percent Fibonacci retracement on the fall from the Oct. 1 high of $92.96 to $79.78.This wave will be totally reversed by a downward wave (5), which may have started at the Oct. 16 high of $84.83. The consolidation between $82.89, the 23.6 percent level, and $84.81 has been shaped into a small triangle, which may turn out to be a bearish pattern.A break above $84.81 will cause a further gain to $86.37, the 50 percent retracement.The views expressed are his own.No information in this analysis should be considered as being business, financial ...


Brent holds on to gains above $86, helped by US consumer sentiment SINGAPORE: Brent crude futures edged higher on Monday, holding on to gains scored in the previous session that took it above $86 a barrel after robust US data buoyed global financial markets, with a cut in Saudi-Kuwait oil output providing further support. Abundant global oil supplies coupled with a gloomy economic outlook from Europe to China had pushed Brent to its lowest since 2010 last week, consolidating a loss of more than 25 percent since ...

Oil prices extend gains in Asia SINGAPORE: Oil prices rose in Asia Monday, lifted by a surge in equities following last week's sharp gains on Wall Street, but analysts said prices remain weighed by weak demand in an oversupplied market.US benchmark West Texas Intermediate for delivery in November climbed 47 cents to $83.22 a barrel in late-morning trade and Brent crude for December added 17 cents to $86.33.Both contracts ended marginally higher last week thanks to a minor dip-buying rally after ...

JSW curbs coal production, investment hit by lower coal prices WARSAW: Poland's JSW, the largest coking coal miner in the European Union, cut its 2014 production target by 9 to 12 percent and slashed investment in an effort to regain profitability after steep falls in coal prices.State-controlled JSW, which swung to a net loss of over $100 million in the first half of the year, said in a statement late on Friday it planned to produce 13.8 million to 14.0 million tonnes of coal in ...

Oil rises above $86 as investors say market oversold LONDON: Brent crude oil rose above $86 a barrel on Friday, bouncing from near four-year lows as investors bought back into a market they said was oversold, and as fighting in Iraq increased political risk.Oil has lost more than a fifth of its value since June on heavy oversupply, signs of weak demand growth and indications that key oil producers, particularly Saudi Arabia, have a limited appetite to intervene on prices. "Prices have likely overshot ...

Oil market rebounds LONDON: World oil prices rebounded Friday on bargain-buying, a day after the US benchmark fell below $80 for the first time in more than two years.However, the overall mood remained clouded by a supply glut in and concerns over demand caused by a slowdown in major European economies and China.US benchmark West Texas Intermediate for November added $1.29 to $83.99 a barrel.Brent North Sea crude for delivery in November won $1.24 to stand at $87.06.WTI ...

Oil rebound extends in Asia SINGAPORE: Oil prices extended a minor rally on bargain-buying Friday, a day after the US benchmark fell below $80 for the first time in more than two years.However, the overall mood remained clouded by a supply glut in and concerns over demand caused by a slowdown in major European economies and China.West Texas Intermediate (WTI) for delivery in November was up 60 cents at $83.30 a barrel in late-morning trade and Brent rose 74 cents ...


 



 
Index Closing Chg%
Arrow DJIA 16,614.81 1.31
Arrow Nasdaq 4,419.48 2.40
Arrow S&P 1,941.28 1.96
Arrow FTSE 6,372.33 1.68
Arrow DAX 8,886.96 1.94
Arrow CAC-40 4,081.24 2.25
Arrow Nikkei 14,804.28 2.03
Arrow H.Seng 23,088.58 0.08
Arrow Sensex 26,575.65 0.55





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln