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Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Thursday but losses were curtailed as dealers focused on positive elements of a mixed US energy stockpiles report, analysts said. West Texas Intermediate for April eased 43 cents to $50.56 while Brent crude for April tumbled 31 cents to $61.32 in afternoon trade.The US government's Department of Energy (DoE) said Wednesday that crude inventories rose 8.4 million barrels in the week ending February 20 to a record 434.1 million barrels, more than double the increase expected.However, the DoE also reported that stockpiles of distillates, which include diesel and heating fuel, slid 2.7 million barrels, while gasoline reserves sank by 3.1 million.Traders are choosing "to focus on the sharp declines in gasoline and distillates stockpiles which may indicate strengthening demand in US, the world's largest crude consumer," Singapore's United Overseas Bank said in a commentary. Analysts said oil prices were also supported following upbeat comments ...


Brent crude up 5pc as Saudi sees improved demand for oil NEW YORK: Brent crude oil futures surged 5 percent on Wednesday, after Saudi Arabia's oil minister said oil demand was growing and data showed Chinese factories were producing more than expected.Falling refined products inventories reported by the government helped lift U.S. crude and countered data showing a larger-than-expected U.S. crude inventory build.Brent April crude rose $2.97 to settle at at $61.63 a barrel. U.S. April crude rose $1.71 to settle at $50.99."The report is relatively ...

Oil market rebounds on US energy report LONDON: Global oil prices rallied Wednesday as sliding US gasoline and distillates inventories eclipsed news that soaring crude reserves hit another record high last week.Brent North Sea crude for April delivery jumped $1.04 to stand at $59.70 a barrel in London late afternoon deals.New York's benchmark West Texas Intermediate (WTI) for April rose 65 cents to $49.93 a barrel.The US government's Department of Energy (DoE) said Wednesday that crude inventories rose 8.4 million barrels in ...

Morocco starts negotiations for 7 bcm LNG import deal RABAT: Morocco has started negotiations to import up to 7 billion cubic meters of gas by 2021 as it aims to diversify energy supplies and reduce dependence on oil and coal imports, the energy minister said on Wednesday. Minister Abdelkader Amara said he had made contact with gas- exporting countries and that private companies are also showing interest. Morocco is already burning 1 bcm of gas, including around 70 million produced locally, but that is ...

Oil rises to $59 as Saudis say demand growing LONDON: Brent crude oil rose to around $59 a barrel on Wednesday after data showed Chinese factories were producing more than expected and Saudi Arabia's oil minister said oil demand was growing. China's factory sector has expanded slightly this month, according to the flash HSBC/Markit Purchasing Managers' Index. The index reached a four-month high of 50.1 in February, just above the 50 level that separates growth in activity from contraction. A Reuters poll had forecast ...

Oil gains ground before US energy report LONDON: World oil prices rose Wednesday, but gains were limited before a key report expected to show further build-up in US crude inventories, dealers said.US benchmark West Texas Intermediate (WTI) for April delivery rose 10 cents to $49.38 a barrel.Brent North Sea crude for April climbed 25 cents to stand at $58.91 a barrel in London midday deals.Crude futures had also fallen on Tuesday as traders estimated a key report will show another increase in ...

Rio Tinto CEO sees no chance of a Glencore merger MELBOURNE: Global miner Rio Tinto will not be taken over by rival Glencore because there is no value in it for shareholders and regulators will never let it happen, Rio Tinto chief executive Sam Walsh said.Rio rebuffed a takeover approach from Glencore last August to create a $160 billion mining and trading goliath and revealed the approach in October. Glencore did not rule out making a fresh attempt.Under UK rules, it could return with an ...


 



 
Index Closing Chg%
Arrow DJIA 18,132.70 0.45
Arrow Nasdaq 4,963.53 0.49
Arrow S&P 2,104.50 0.30
Arrow FTSE 6,946.66 0.04
Arrow DAX 11,401.66 0.66
Arrow CAC-40 4,951.48 0.83
Arrow Nikkei 18,797.94 0.06
Arrow H.Seng 24,823.29 0.32
Arrow Sensex 29,220.12 1.65







ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln