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Oil prices rebound slightly after ducking under $50 LONDON: World oil prices ducked briefly under $50 per barrel on Tuesday, before staging a modest rebound on the eve of the latest snapshot of US crude inventories.US benchmark West Texas Intermediate for delivery in August sank in early morning deals to a 3.5-month low of $49.77, hit by dollar strength and expectations of more Iranian crude in an oversupplied global market.However, the WTI contract then rebounded to stand at $50.43, up 28 cents from Monday's closing level.Brent North Sea crude for September delivery meanwhile added 14 cents to $56.74 in late afternoon London deals."In a nutshell: prices haven't moved dramatically today," said oil trader Robert Montefusco at brokerage Sucden Financial.He added that there is currently "nothing newsworthy that is going to move oil prices" ahead of Wednesday's inventories report from the US government's Department of Energy (DoE).The weekly report is a key focus for the oil market because the ...


New York oil ducks under $50 LONDON: World oil prices slipped Tuesday with US crude ducking under $50 as demand took a hit from the looming return of Iranian supplies and the strong US currency, analysts said.Expectations of more Iranian crude flooding the oversupplied global market within months after a landmark nuclear deal continue to drag the oil market lower.Brent North Sea crude for September delivery nudged four cents lower to stand at $56.62 a barrel nearing midday in London.US benchmark ...

Oil prices fall further on strong dollar, WTI below $50 SINGAPORE: Oil prices fell further in Asia Tuesday, with US crude falling below $50 a barrel as demand for the dollar-priced commodity takes a hit from a strong US currency, analysts said. Expectations of more Iranian crude flooding the oversupplied global market within months following a nuclear deal also continue to drag prices lower. US benchmark West Texas Intermediate (WTI) for August delivery fell 20 cents to $49.95 and Brent crude for September dropped 14 ...

Oil drops on concerns of glut in refined products LONDON: Oil dropped on Monday as signs of a growing glut in refined products outweighed a fall in Saudi crude exports and slower U.S. rig activity.Crude prices have fallen for three weeks in a row on expectations of increased oil sales from Iran following a deal to ease sanctions against the OPEC producer.Brent crude for September was down 35 cents at $56.75 a barrel by 1100 GMT. The benchmark fell nearly 3 percent last week ...

Oil dips on strong dollar, supply fears LONDON: World oil prices fell further Monday on a stronger dollar and concerns that a supply glut will worsen following a landmark deal which will allow Iran to increase its crude exports.Brent North Sea crude for September delivery dropped 48 cents to $56.62 a barrel nearing midday London trade.US benchmark West Texas Intermediate for delivery in August shed 17 cents to $50.72 a barrel compared with Friday's close.In foreign exchange deals, the dollar hit its ...

Oil steadies as Saudi crude exports fall LONDON: Oil prices steadied on Monday after data showing a sharp drop in Saudi Arabia's crude oil exports balanced signs of rising refined products stocks. Brent crude for September was 5 cents up at $57.15 a barrel by 0825 GMT. The benchmark fell nearly 3 percent last week and is down more than 10 percent so far this month.US crude futures for August, also known as West Texas Intermediate (WTI), were up 5 cents at ...

Oil prices down in Asia on strong dollar, supply worries SINGAPORE: Oil prices declined in Asia Monday on a stronger dollar and concerns a supply glut will worsen following a landmark deal that will allow Iran to increase its crude exports.US benchmark West Texas Intermediate (WTI) for August delivery fell 26 cents to $50.63 and Brent crude for September dipped 20 cents to $56.90 a barrel in afternoon trade.The dollar was firm in Asia on Monday with investors focussing on the timing of a US ...


 



 
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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%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln