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Oil rises after 2-day loss; US inventories seen up again NEW YORK: Crude oil prices closed higher on Tuesday, with Brent finishing just above $86 a barrel after two straight days of losses, helped by a weaker dollar and a rally on Wall Street. But worries about a third weekly build in a row in US crude inventories capped gains. Crude stockpiles in the United States were forecast to have risen 3.4 million barrels in the week to Oct. 24, while inventories of distillates and gasoline were seen lower, according to a Reuters survey. Industry group American Petroleum Institute will issue its inventory report for the week at 4.30 p.m. EDT (2030 GMT). The US government's Energy Information Administration will release on Wednesday its own official data for the same period. Oil rode the coattails of US stocks which surged late in Tuesday's session as better-than-expected earnings eased worries about the outlook for corporate America."We were treading water through the ...


Brent steady above $86 as market awaits Fed statement TOKYO: Brent oil prices held steady above $86 a barrel on Wednesday as investors awaited guidance from the Federal Reserve on US monetary policy later in the day and after industry data on US inventories came in more or less as expected.Investors were also awaiting data on closely-watched stockpiles from the US government's Energy Information Administration due at 1030 EDT (1430 GMT) on Wednesday.Industry group American Petroleum Institute (API) on Tuesday showed US crude inventories ...

Oil prices up ahead of Fed outcome, supply report SINGAPORE: Oil prices rose in Asia Wednesday as dealers await the outcome of a US Federal Reserve meeting and the latest US supply report. US benchmark West Texas Intermediate for December delivery rose 26 cents to $81.68 while Brent crude for December was up 20 cents at $86.23 in mid-morning trade."The focus is clearly on the Fed," Singapore's United Overseas Bank said in a commentary. A statement on the two-day Fed meeting's outcome will be ...

Brent oil steadies around $86 as weak dollar offsets data LONDON: Brent crude oil steadied around $86 a barrel on Tuesday, as a rally in European equities and a fall in the dollar offset weak U.S. data.U.S. durable goods orders in September fell by 1.3 percent, the country's Commerce Department said, a day after a survey showed the U.S. services sector expanding at the slowest rate since April.The data pointed to slowing oil demand, but also helped to drive down the U.S. dollar, supporting oil ...

UK gas prompt power price soars on tight winter supply forecast LONDON: British wholesale natural gas and power prices rose on Tuesday morning, with prompt power soaring due to National Grid expectations of tight electricity supply this winter.The baseload power price for delivery on Wednesday was 9.20 pounds or 22 percent higher at 52 pounds per megawatt-hour by 1002 GMT.Britain is likely to face tight electricity supplies due to the closure of several power plants, the country's grid operator said on Tuesday, but measures have been ...

Middle East crude weak demand in Asia weighs SINGAPORE: The Middle East crude market remained depressed by excess supply and weak demand in Asia, with only the grades sold on the Platts window supported by Chinaoil, the trading arm of PetroChina.Shell has again offered Murban at a discount of 40 cents a barrel to its official selling price (OSP) on the Platts window, but there were no buyers.Unipec and Gunvor will deliver a cargo each of Oman and Upper Zakum respectively to Chinaoil ...

Asia-Pacific crude under pressure; ESPO in focus SINGAPORE: Over supply continued to weigh on the Asia-Pacific crude market on Tuesday although signs of improving middle distillate margins could support differentials for Russia's ESPO grade, traders said.Profits from processing a barrel of crude continued to slip, with complex refining margins in the Singapore hub averaging about $5 a barrel over the last two weeks, down from $6.35 a barrel last month.Still, a pick-up in margins for jet fuel and an anticipated increase in ...


 



 
Index Closing Chg%
Arrow DJIA 17,390.52 1.13
Arrow Nasdaq 4,630.74 1.41
Arrow S&P 2,018.05 1.17
Arrow FTSE 6,546.47 1.28
Arrow DAX 9,326.87 2.33
Arrow CAC-40 4,233.09 2.22
Arrow Nikkei 16,413.76 4.83
Arrow H.Seng 23,998.06 1.25
Arrow Sensex 27,865.83 1.90





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln