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Asia Pacific crude steady; Brent's premium to Dubai falls below $1 SINGAPORE: The Asia-Pacific crude market held steady on Wednesday as trading for October-loading cargoes was slow to begin, although strong competition from sellers in West Africa and Latin America could weigh on demand for regional grades.Brent's premium to Dubai crude fell below $1 a barrel for the first time in over four years, as a glut of oil in the Atlantic Basin and in Asia weighed on the European benchmark.Brent-Dubai Exchange of Futures for Swaps (EFS) for September was valued at 95 cents a barrel, down 12 cents from Tuesday's close and the narrowest since mid-June, 2010.The narrowing gap makes Asia-Pacific grades more attractive relative to Middle Eastern grades, but also pulls more cargoes of West African and Latin American crudes to Asia, as sellers struggle to find a home for their cargoes in a well-supplied global market."Competition is fierce," a trader said.India's MRPL, which usually buys its crude from ...


Middle East crude Oman weakens as supply rises SINGAPORE: The Middle East crude market weakened on Wednesday with Oman slipping into a wider discount against Dubai as ample supply weighed.Geopolitical tensions showed little signs of disrupting supply with OPEC's production hitting a five-month high of 30.44 million barrels per day (bpd) in July, according to the International Energy Agency.Iraq has also scheduled to export about 2.4 million barrels per day (bpd) of Basra Light crude in September, up from 2.2 million bpd in ...

Brent crude oil falls to 13-month low on strong supplies LONDON: Brent crude oil fell for a fourth straight day on Wednesday to its lowest in more than a year, dropping below $103 a barrel as strong supplies overshadowed fears of disruptions from violence in OPEC member Iraq.The international oil benchmark has fallen 11 percent since mid-June as the surge by Islamic State militants in northern Iraq has yet to lead to any major supply outages, while global crude output has been rising.Exports from Libya ...

Oil prices mixed after IEA slashes demand forecast SINGAPORE: Oil prices were mixed in Asia Wednesday after the International Energy Agency slashed its demand outlook for 2014 and 2015 while reporting a glut in global supplies despite conflicts in Iraq and Ukraine.US benchmark West Texas Intermediate for September rose four cents to $97.41 in afternoon Asian trade, after declining 71 cents in New York. Brent crude for September delivery was down 31 cents at $102.71. It fell $1.66 to finish at $103.02 in ...

Oil prices extends losses after IEA slashes demand forecast SINGAPORE: Oil prices extended losses in Asia Wednesday after the International Energy Agency slashed it demand outlook for 2014 and 2015, while reporting a glut in global supplies despite conflicts in Iraq and Ukraine.US benchmark West Texas Intermediate for September fell 19 cents to $97.18 in mid-morning Asian trade, after declining 71 cents in New York. Brent crude for September delivery was down 24 cents at $102.78. It fell $1.66 to finish at $103.02 in ...

Oil prices fall on weak demand forecast NEW YORK: Oil prices dropped Tuesday with the main European benchmark contract sinking to a 13-month low after the International Energy Agency slashed its demand outlook for 2014 and 2015.US benchmark West Texas Intermediate (WTI) for September delivery fell 71 cents to $97.37 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for delivery in September tumbled $1.66 to $103.02 a barrel, its lowest closing price since July 1, 2013. Pointing to slower ...

Oil price hits nine-month low in London LONDON: Oil prices dropped on Tuesday, with European benchmark Brent falling to a fresh nine-month low point on easing concerns about supply disruptions arising out of conflicts in Ukraine and Iraq. Brent crude for delivery in September hit $103.65 a barrel -- the lowest level since last November. In later midday deals, Brent stood at $103.78 a barrel, down 90 cents compared with Monday's closing level.US benchmark West Texas Intermediate for September dropped 71 cents ...


 



 
Index Closing Chg%
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln