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Crude down again on oil products weakness; Greece, Iran eyed NEW YORK: Crude oil fell for a second straight day on Thursday, weighed by weaker U.S. refined fuels markets and potential negative impact from Greece's debt crisis on European energy demand.Worries of a possible glut emerging in U.S. gasoline and diesel supply after large builds in both last week added to concerns that millions of barrels of Nigerian crude were floating around the Atlantic Basin looking for buyers.Brent crude settled down 29 cents, or 0.5 percent, at $63.20 a barrel.U.S. crude, also known as West Texas Intermediate or WTI, fell 57 cents, or almost 1 percent, to end at $59.70."It feels like the bulls have thrown in the towel in their pursuit of pushing WTI up to $65," said Scott Shelton, broker with ICAP in Durham, North Carolina.U.S. crude has been trapped between $59 and $61 over the past two weeks while Brent has languished at $62 to $65."I'm really ...


Oil prices slip as Greece and Iran rattle market LONDON: Oil prices fell on Thursday as concerns over Greek debt negotiations and the potential easing of sanctions on crude-producing Iran overshadowed strong U.S. demand figures.North Sea Brent crude oil traded within a fairly narrow range as investors eyed a weak physical crude market in the Atlantic Basin amid reports of healthier demand for gasoline and diesel in the United States and Europe.But to-the-wire talks between Greece and its international creditors that have thus far ...

Oil prices mixed after falling LONDON: Oil prices were mixed Thursday after falls the previous day caused by high US output, while the market also tracked talks concerning Iran's nuclear programme.US benchmark West Texas Intermediate for August delivery fell 23 cents to $60.04 from Wednesday's close.Brent North Sea crude for August edged up three cents to stand at $63.52 a barrel in London midday deals.Prices had fallen Wednesday as the weekly US energy inventory report showed domestic output remaining at ...

Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asia Thursday following a bearish US energy report, while talks over crude producer Iran's nuclear programme dragged on, analysts said. US benchmark West Texas Intermediate for August delivery fell three cents to $60.24 while Brent gained 14 cents to $63.63 in mid-morning trade.Sanjeev Gupta, head of the Asia-Pacific oil and gas practice at business consultancy EY, said oil prices were pressured by the US Department of Energy's weekly petroleum ...

Oil prices fall as US ouput remains at record highs NEW YORK: Oil prices fell Wednesday as the weekly US industry report showed domestic output still high and commercial fuel inventories generous.In New York US benchmark West Texas Intermediate for August delivery lost 74 cents at $60.27 a barrel in NYMEX trade.In London Brent crude for August dropped 96 cents to $63.49 a barrel.The weekly official US oil report showed domestic crude output edged up to a record 9.6 million barrels a day in the ...

Statoil cancels China Oilfield Services rig contract OSLO: Oil major Statoil has cancelled a rig contract with China Oilfield Services some 13 months ahead of the expiry date, the Norwegian company said, blaming overcapacity in its rig portfolio. Statoil suspended its use of the COSL Pioneer last October after cutbacks in the firm's investment plans following a sharp drop in crude prices. "Statoil has not managed to find alternative activity for the rig," it said on Wednesday. Copyright Reuters, 2015

Total pulls out of Russian gas project PARIS: Total said Wednesday it had pulled out of the Shtokman natural gas project in the Barents Sea, with development of one of the world's largest untouched gas fields apparently falling victim to Western sanctions in Russia."Total has passed to Gazprom its 25 percent share in Shtokman Development AG and expressed its interest to further cooperate on the project should it enter an active phase," the French energy company said, confirming a report in the ...


 



 
Index Closing Chg%
Arrow DJIA 17,440.59 0.73
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Arrow S&P 2,067.64 0.58
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln