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Oil prices down in Asian trade SINGAPORE: Oil prices extended their losses in Asia Tuesday after Japan's economy slumped to recession, while prospects for an OPEC output cut dimmed, analysts said. US benchmark West Texas Intermediate for December delivery fell 32 cents to $75.32 while Brent crude for January was down 43 cents to $78.88 in late-morning trade.Prices are facing pressure from "weak Japanese economic data and increasing scepticism that OPEC will be able to agree to rein in oil production", Singapore's United Overseas Bank said in a note to investors.Official Japanese data Monday showed the world's number three economy shrank 0.4 percent in the July-September quarter, or an annualised rate of 1.6 percent. That followed a revised 1.9 percent shrinkage in April-June, putting the economy into technical recession. Japan was the world's third-largest net importer of crude oil in 2013 after the United States and China, according to data from the US Energy Information Administration. ...

Brent oil neutral in $78.39-$79.40 range SINGAPORE: Brent oil looks neutral in a range of $78.39- $79.40 per barrel, and an escape will point to a direction.The range has been formed by the 14.6 percent and the 23.6 percent Fibonacci retracements on the fall from the Oct. 29 high of $87.94 to the Nov. 14 low of $76.76.A break above $79.40 will open the way towards the 38.2 percent retracement at $81.03, while a drop below $78.39 could extend to $76.76.The ...

Ukraine gas reserves down 8.4pc since start of heating season KIEV: The volume of gas kept in Ukrainian underground gas storages has fallen by around 8.4 percent since Kiev started pumping gas on Oct. 20 for heating in colder weather, state-run gas transport monopoly Ukrtransgaz said on Monday.The company's spokesman said there were 15.35 billion cubic meters (bcm) of gas in storages as of Nov. 15 compared with 16.75 bcm as of Oct. 20.Ukraine, which covers half of its annual needs by importing Russian gas, ...

Brent falls below $79 as Japan enters recession LONDON: Brent crude fell below $79 a barrel on Monday after Japan, the world's fourth-biggest crude importer, slipped into recession and as Saudi Arabia reiterated the oil price should be left to supply and demand.The market is waiting to see whether the Organization of the Petroleum Exporting Countries will cut production at its meeting at the end of November. The Atlantic Basin is still awash with unsold barrels partly due to the continued growth in ...

Middle East crude January Upper Zakum discount widens SINGAPORE: January spot differential for Upper Zakum in the Middle East crude market hit the widest discount in two months on Monday due to lacklustre demand for the grade on the Platts window.Vitol sold a cargo to Trafigura on the window at 80 cents a barrel below its official selling price (OSP), traders said.Last month, the Abu Dhabi crude's premium hit the highest in 11 months, boosted by strong demand from Chinaoil.In contrast, firm Chinese ...

UK gas prices rise on undersupply, weather, possible sanctions LONDON: British wholesale natural gas prices rose on Monday morning due to undersupply in the UK gas system, forecasts of lower temperatures and the possibility of further European Union sanctions on Russia.Gas for day-ahead delivery was up 1.10 pence at 54.50 pence per therm, while within-day gas was up 0.95 pence per therm.The UK gas system was expected to be 12 million cubic metres (mcm) short of gas on Monday, with flows forecast at 244 ...

Asia-Pacific crude January Chim Sao steady; Sokol weakens SINGAPORE: Vietnamese Chim Sao crude for January loading sold at similar premiums from the previous month on firm demand, traders said on Monday.Vitol bought two of the cargoes from PV Oil while Shell purchased one, they said. Premiums for the cargoes loading on Jan. 7-11,17-21 and 26-30 were between $2.50 and $2.90 a barrel to dated Brent, traders said.Russian Sokol, on the other hand, weakened to a premium at just below $3 a barrel to ...


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln