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US oil climbs on oil exports report SINGAPORE: US oil prices climbed in Asia Wednesday following a report that the United States, the world's top crude consumer, has lifted a four-decade ban on exports. US benchmark West Texas Intermediate (WTI) for August delivery rose 70 cents to $106.73 in mid-morning trade after jumping nearly a dollar in early trading. It had slipped 14 cents in New York trade. Brent crude for August eased 41 cents to $114.05. The Wall Street Journal reported late Tuesday that Washington has "cleared the way for the first exports of unrefined American oil in nearly four decades". Citing rulings that have not yet been announced, the newspaper said the Commerce Department has given two companies -- Pioneer Natural Resources and Enterprise Products Partners LP -- permission to ship a type of ultralight oil known as condensate for foreign buyers. The shipments could begin as soon as August, the paper said, citing people ...

Oil markets poised for record as Iraq crisis deepens LONDON: Oil markets have staged only a muted reaction to the bloody insurgency gripping OPEC's number two producer Iraq, but analysts warn any disruption to supplies could push prices to record peaks.The offensive led by the Islamic State of Iraq and the Levant (ISIL) that has swept through the north of the country and is now threatening to rip Iraq apart has sent prices to nine-month highs but they remain $30 below the peaks hit ...

Oil prices diverge as market eyes Iraq crisis NEW YORK: World oil prices diverged on Tuesday, holding close to recent peaks amid ongoing concerns over violence in crude-producer Iraq.US benchmark West Texas Intermediate (WTI) for August dipped 14 cents to close at $106.03 a barrel on the New York Mercantile Exchange. In London, European benchmark Brent crude for delivery in August settled at $114.46 a barrel, a gain of 34 cents from Monday.Both futures contracts fell Monday after striking nine-month peaks late last ...

Oil prices hold firm LONDON: World oil prices edged higher on Tuesday, holding close to recent peaks amid ongoing concerns over violence in crude producer Iraq.Brent crude for delivery in August added two cents to $114.14 a barrel in London early afternoon deals compared with Monday's closing level.US benchmark West Texas Intermediate for August gained six cents to $106.23 per barrel. The market had fallen on Monday as investors reassessed a political crisis in Iraq that remains concerning, but ...

Libya's oil output around 270,000 bpd, Hariga still closed: NOC TRIPOLI: Libya is currently producing around 270,000 barrels of oil, a spokesman for state-owned National Oil Corp (NOC) said on Tuesday.NOC spokesman Mohamed El Harari also said the eastern port of Hariga had been closed again by protesters. A first tanker had loaded oil on Saturday but protesters are blocking the docking of a second.The 340,000-bpd-El Sharara oilfield also remains closed, he said, adding that the El Feel oilfield was pumping around 95,000 bpd.Copyright Reuters, ...

Oil drops below $114 as Iraq supply concerns eases LONDON: Oil slipped below $114 a barrel on Tuesday, retreating further from a nine-month high, as concerns eased that escalating violence in Iraq will affect supplies from OPEC's second-largest oil producer.According to tanker loading data and Reuters sources, exports from southern Iraq - the outlet at present for almost all of Iraq's crude exports - have held at near-record rates in the first three weeks of June.Exports from the southern terminals averaged 2.53 million barrels ...

Middle East crude Oman plunges to 5-month low on weak demand SINGAPORE: DME Oman's premium to Dubai crude fell for the fourth straight session on Tuesday to hit the lowest in five months, depressed by weak demand in Asia.Faced with lacklustre refining margins, Asian refiners are keeping utilisation rates low, reducing demand for August loading barrels.The valuation for competing Murban has likely fallen to parity to its OSP as cargoes were still available for August loading, a trader said, despite purchases by Thai refiners last week ...


Index Closing Chg%
Arrow DJIA 18,037.97 0.23
Arrow Nasdaq 5,060.25 0.63
Arrow S&P 2,108.92 0.41
Arrow FTSE 7,103.98 0.47
Arrow DAX 12,039.16 1.93
Arrow CAC-40 5,268.91 1.30
Arrow Nikkei 19,983.32 0.18
Arrow H.Seng 28,433.59 1.33
Arrow Sensex 27,176.99 0.95

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln