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Oil down on high supply worry, but quick ‘buying on dips’ NEW YORK: Oil prices were down on Monday on worries of oversupply and a strong dollar, but bets the market had hit bottom after a seven-month selloff limited the downside, traders said.The weekly decline in the number of U.S. rigs drilling for oil slowed last week as crude prices rebounded from January lows, raising worries about oil inventories that were already at record highs.The largest U.S. refinery strike in 35 years, involving workers at 12 refineries that account for one-fifth of the national production capacity, has also been a negative for crude.U.S. East Coast refineries have also been hit by cold weather, sending up heating oil futures on fears of tight supplies.But a smaller-than-expected build in the Cushing, Oklahoma delivery point for U.S. crude reported on Monday by oil services firm Genscape helped prices pare some initial losses. Genscape reported a build of 2.2 million barrels for Feb. 13-20, versus ...


Oil down on high supply, heating oil spikes again NEW YORK: Crude oil futures were lower on Monday as investors worried about oversupply and a strong dollar, but heating oil jumped about 6 percent for a second straight day due operational problems at major U.S. refineries.Crude fell as the weekly decline in U.S. rigs drilling for oil slowed last week, raising worries that inventories, already at record highs, could swell further.The largest U.S. refinery strike in 35 years has also pressured crude prices.Heating oil ...

Oil prices extend slide on high supplies LONDON: Oil prices slid on Monday, extending last week's sharp decline as the dollar strengthens on eurozone strains, and as record supplies in the United States add further downward pressure.US benchmark West Texas Intermediate (WTI) for delivery in April shed $1.71 to $49.11 a barrel compared with Friday's close.Brent North Sea crude for April lost $1.24 to stand at $59 a barrel in late London deals.WTI slumped 4.66 percent and Brent tumbled 2.1 percent during ...

Oil prices extend slide LONDON: Oil prices slid Monday, extending last week's sharp decline as the dollar strengthens on eurozone strains and record supplies in the United States add further downward pressure.US benchmark West Texas Intermediate (WTI) for delivery in April shed $1.17 to $49.64 a barrel compared with Friday's close.Brent North Sea crude for April lost $1.24 to stand at $58.98 in London afternoon deals.WTI slumped 4.66 percent and Brent tumbled 2.1 percent during the week to last ...

Oil prices fall as dollar strengthens and oversupply adds pressure LONDON: Oil prices fell on Monday as worries about oversupply in North America and a strong dollar pushed Brent futures towards $59 a barrel and US contracts below $49 a barrel. After an initial rise along with global markets on optimism that another euro zone crisis over Greek debt had been averted for now, prices began dipping as analysts said crude markets remained oversupplied, especially in the United States. "The term structure of oil continues ...

Bangladesh helped by tight naphtha market in selling tender DHAKA: Bangladesh Petroleum Corp (BPC) will sell 170,000 barrels of naphtha to Unipec at a premium of $0.39 per barrel to Singapore quotes, the highest since August and sharply up from the previous sale. Unipec offered the best price among six companies that competed for the tender, a BPC official said on Monday, as the tender opened on Feb. 18 with validity up to Feb. 26.This will be the highest selling price since August when ...

Gas withdrawals from Centrica's UK storage site in unplanned cut LONDON: Britain's biggest underground gas storage facility, Rough, was undergoing an unplanned cut to withdrawals on Monday, operator Centrica said. The flow cut began at 0600 GMT and is expected to reduce withdrawal capacity by 9 million cubic meters (mcm) per day, a Centrica spokeswoman said. The withdrawal cut is expected to end at 0559 GMT on Tuesday the spokeswoman said. Copyright Reuters, 2015


 



 
Index Closing Chg%
Arrow DJIA 18,132.70 0.45
Arrow Nasdaq 4,963.53 0.49
Arrow S&P 2,104.50 0.30
Arrow FTSE 6,946.66 0.04
Arrow DAX 11,401.66 0.66
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Arrow Sensex 29,220.12 1.65







ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln