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US crude oil stocks surge 11mn bbls, biggest rise since 2001 NEW YORK: US crude stocks surged nearly 11 million barrels last week, the biggest gain in 14 years, as imports jumped, while gasoline inventories unexpectedly increased, government data showed on Wednesday.Crude inventories rose 10.95 million barrels in the week to April 3 to 482.4 million, hitting record highs for the 13th consecutive week, according to data from the Energy Information Administration (EIA). Analysts had forecast an increase of 3.4 million barrels on average.Crude stocks at the Cushing, Oklahoma, delivery hub rose 1.2 million barrels, which was also a bigger-than-expected build. U.S. crude imports rose 869,000 barrels per day (bpd) to 7.7 million bpd.Both U.S. and Brent crude futures extended losses after the EIA report.U.S. May crude was down $2.40, or 4.5 percent, at $51.58 a barrel at 11:20 a.m. EDT (1520 GMT), having fallen as low as $51.38.Brent May crude was down $2.01, or about 3.5 percent, at $57.09, having ...

Asia-Pacific Crude-Refining margins slip from multi-year highs SINGAPORE: The Asia-Pacific crude market could come under pressure as refining margins begin to fall from multi-year highs.Asian refining margins have started to slip over the past week after refiners enjoyed their highest profit margins in years in the first quarter.Complex refining margins in the Singapore hub have averaged around $8 a barrel over the past week, down from an average of around $9.30 a barrel in March."I think by the middle of the year ...

Oil falls on US stock build, record Saudi output LONDON: Oil prices fell towards $58 a barrel on Wednesday as industry data showed a larger-than-expected weekly increase in U.S. stockpiles and as Saudi Arabia reported record output in March.The decline in prices followed a rally on Tuesday, when U.S. crude approached 2015 highs following strong jobs data and government forecasts for lower U.S. crude production growth and higher global demand for oil."We're going to need to see a very big uptick in demand to ...

Middle East Crude-Dubai unchanged despite robust Chinaoil demand  SINGAPORE: Cash Dubai remained at a discount of about $1 to Dubai swaps in the Middle East crude oil market on Wednesday, unchanged from the previous session, despite robust demand from Chinaoil.The trading arm of PetroChina bought four Oman cargoes from Unipec in a busy window session which saw 120 deals, traders said. This brings Chinaoil's total tally for the month to 14 cargoes.Cash Oman is now on a par with Dubai, down from a ...

Oil prices fall before US data LONDON: Oil prices fell Wednesday on profit-taking after the previous day's sharp gains, while traders expected another rise in US crude inventories.US benchmark West Texas Intermediate (WTI) for delivery in May declined $1.13 to $52.85 a barrel.Brent North Sea crude for May dropped 69 cents to stand at $58.41 a barrel around midday.On Tuesday WTI rose $1.84 and Brent was up 98 cents on easing worries that Iranian crude will flood the market soon after ...

Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia on Wednesday on profit-taking after the previous day's sharp gains, with traders expecting another rise in US inventories, analysts said.US benchmark West Texas Intermediate (WTI) for May delivery declined $1.01 to $52.97 and Brent crude for May dropped 86 cents to $58.24 in afternoon trade.On Tuesday WTI rose $1.84 and Brent was up 98 cents on easing worries that Iranian crude will flood the market soon after last week's ...

Mexico, US firm sign $1 billion energy investment deal MEXICO CITY: Mexico's state oil company Pemex and US private equity firm First Reserve announced an agreement Tuesday to invest $1 billion in energy infrastructure and maritime transport projects.The deal comes on the heels of a $900 million deal last month between Pemex, First Reserve and BlackRock, the world's biggest money manager, in which the two US firms acquired a 45 percent stake in the construction of a natural gas pipeline.Mexico is implementing a sweeping ...


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