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Oil prices dip as US inventory build drags SINGAPORE: Crude futures dipped on Wednesday as ballooning U.S. storage volumes pressured prices, a trend some analysts said they expected to continue for another two months.Brent oil futures were trading at $55.06 a barrel at 0508 GMT, down five cents, while U.S. WTI crude was at $47.36 a barrel, down 15 cents.For Brent, strengthening European manufacturing data lent contracts some support, preventing steeper price falls.The bigger fall in U.S. prices came as American crude stocks appeared to extend their long streak of weekly builds."U.S. crude stocks will build through May ... (which) should support bearish sentiment for now," Morgan Stanley said in a note on Wednesday, adding that there was still plenty of storage capacity left for inventory gains.A poll of eight analysts - taken ahead of weekly reports from industry group the American Petroleum Institute (API) and the U.S. Energy Information Administration (EIA) - forecast a crude stock build ...


Oil prices steady, but inventory build drags SINGAPORE: Crude futures were steady on Wednesday, but ballooning volumes in storage around the world were expected to pressure prices.Brent oil futures were trading at $55.13 a barrel at 0229 GMT and U.S. WTI crude was at $47.48 a barrel - both virtually unchanged from their last settlement."Another week, another record U.S. commercial stock level," said U.S.-based PIRA Energy.U.S. crude stockpiles were forecast to extend their record build into an eleventh consecutive week.A poll of ...

Oil prices fall after dollar bounces back LONDON: Oil prices fell Tuesday as the dollar rebounded against the euro and after disappointing manufacturing data out of top energy consumer China, traders said. US benchmark West Texas Intermediate for delivery in May dipped 10 cents to $47.35 a barrel.Brent North Sea crude for May dropped 54 cents to stand at $55.38 a barrel in late London deals.The dollar rebounded against the euro, making crude priced in the US unit more expensive for holders ...

Brent slides, US crude flat on resilient dollar NEW YORK: Brent crude oil fell on Tuesday as the dollar regained its footing against the euro and fears of global oversupply persisted, while U.S. crude's losses were limited by strong domestic economic data.The fall in Brent came after the dollar reversed early losses to rise 0.4 percent against the euro, making dollar-priced commodities more expensive in the euro zone.Brent futures for May delivery fell 80 cents to trade at $55.10 at 11:43 EDT (1643 ...

Oil below $56 as China slowdown offsets weak dollar LONDON: Brent crude oil held below $56 a barrel on Tuesday, as signs of slowing growth in China and Saudi Arabian oil production close to an all-time high overshadowed a weaker dollar.Brent futures for May delivery were trading down 16 cents at $55.76 by 1311 GMT, while U.S. crude rose 50 cents to $47.95 a barrel. Its discount to Brent narrowed to less than $8 a barrel for the first time in a week.The dollar ...

Oil falls to $55 on China slowdown, dollar reversal LONDON: Brent crude oil fell towards $55 a barrel in choppy trading on Tuesday after the dollar firmed, adding pressure to a market grappling with signs of slowing Chinese growth and Saudi Arabian oil production close to an all-time high.The dollar reversed early losses to rise 0.25 percent against the euro, pressuring dollar-priced commodities that tend to move inversely to the U.S. currency.Brent futures for May delivery were down 49 cents at $55.43 by 1414 ...

Oil prices edge higher LONDON: Oil prices edged higher Tuesday as a weaker dollar offset disappointing manufacturing data out of top energy consumer China, traders said. US benchmark West Texas Intermediate for delivery in May nudged up 11 cents to $47.56 a barrel.Brent North Sea crude for May dipped five cents to stand at $55.97 in London afternoon deals.The European single currency edged up slightly against the dollar, making crude priced in the US unit cheaper for holders of ...


 



 
Index Closing Chg%
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 20, 2015
Reserves $16.132 bln