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Oil prices fall ahead of US stocks data SINGAPORE: Oil prices fell in Asia Wednesday, giving up meagre gains in the previous session as investors await a US inventory report to gauge demand in the world's top economy. US benchmark West Texas Intermediate for September delivery fell 17 cents to $42.45 a barrel and Brent crude for October dipped 23 cents to $48.58 a barrel in late-morning Asian trade.Both contracts eked out modest rebounds in closing deals in New York on Tuesday.But analysts said prices were unlikely to stage a sustained rally because the market remains awash with supplies from the Organization of the Petroleum Exporting Countries (OPEC), led by Saudi Arabia.Oil traders are also watching a report on US crude inventories in the week ending August 14 due later Wednesday to measure demand in the world's biggest economy and large producer of shale oil.Analysts expect inventories to decline, but also said stockpile levels remain high after a ...


Oil prices higher ahead of US inventory data NEW YORK: Oil prices rose modestly Tuesday as traders looked ahead to weekly US commercial inventory data that could shed insights into demand in the world's largest consumer of crude oil.US benchmark West Texas Intermediate for September delivery closed at $42.62 a barrel on the New York Mercantile Exchange, up 75 cents from Monday's settlement.Brent North Sea crude for October, the international benchmark, spent most of the day in the red but managed to eke ...

Brent oil's target at $47.71 remains intact SINGAPORE: A bearish target at $47.71 per barrel remains unchanged for Brent oil, as indicated by a Fibonacci projection analysis and a triangle.The contract is still riding on a wave C, which is the third leg of a trend that developed from the May 6 high of $69.63. This wave has traveled below a support at $48.98, the 200 percent level, and the next support will be at $47.71, the 214.6 percent level.The triangle forming ...

Oil prices slide further in Asia SINGAPORE: Oil prices slipped further in Asia Tuesday, weighed down by a strengthening dollar as concerns about weakening demand in China added to expectations a global oversupply will last for years. US benchmark West Texas Intermediate for September delivery was down seven cents to $41.80 in late-morning trade. WTI has lost more than 30 percent in the past two months, bringing it to the lowest level since March 2009.Brent crude for October gave up 13 ...

Oil prices continue downward slide NEW YORK: Crude oil prices fell Monday, deepening a long slide as traders expect US production will remain strong, adding to abundant global supplies.US benchmark West Texas Intermediate (WTI) for September delivery closed at $41.87 a barrel, down 63 cents from Friday's settlement after a technical modest rebound Friday.In London, Brent North Sea crude for October, the international benchmark, fell 45 cents to $48.74 a barrel in its first day of trade."Oil prices are starting ...

Oil near 6-1/2 year low on Japan slowdown, China worry NEW YORK: Oil prices fell on Monday with U.S. crude near 6-1/2-year lows after No. 3 consumer Japan suffered an economic contraction in the second quarter and China's slowdown continued to weigh on oil market sentiment.A stronger dollar after the fastest pace of growth in U.S. industrial output in eight months also made greenback-denominated commodities, including crude, less affordable for holders of other currencies such as the euro.U.S. crude futures were 5 cents down at ...

Oil slips closer to six-year low on Japan data, oversupply LONDON: Oil prices fell towards six-year lows on Monday on data showing the economy of Japan, the world's third-biggest oil consumer, contracted in the second quarter.The global oversupply picture was exacerbated by another weekly jump in U.S. oil rig additions on Friday, hinting at growing production, and news that Oman produced a record-breaking 1 million barrels per day in July.U.S. crude, or West Texas Intermediate (WTI), for September was trading 45 cents lower at $42.05 ...


 



 
Index Closing Chg%
Arrow DJIA 16,374.76 0.14
Arrow Nasdaq 4,733.50 0.35
Arrow S&P 1,951.13 0.12
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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