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Middle East Crude-Premiums climb on low OSPs, firm demand SINGAPORE: The Middle East crude market stayed firm on Wednesday with most February spot grades sold at higher differentials than the previous month.Low official selling prices (OSPs) and robust demand for incremental crude in Asia supported differentials in February, pushing up premiums for Abu Dhabi Murban close to 60 cents a barrel.A Japanese refiner has bought a Das crude cargo at more than 70 cents a barrel, a trader said.Refiners across Asia are keeping crude runs high on good margins and to meet winter demand while the number of units to be shut for maintenance in Japan is set to fall this year.TENDERSTasweeq has sold one al-Shaheen crude for February loading each to ExxonMobil and TonenGeneral, traders said.The cargoes were sold at an average discount of 78 cents a barrel to dated Brent, one trader said, up from an average discount of $1.71 a barrel in the previous month. The ...

UK gas prompt prices ease as warm weather dents demand LONDON: Prompt natural gas edged lower in Britain on Wednesday morning as warm weather forecasts led to reduced demand for gas for heating and from power generators.Prices for within-day delivery were trading at 53.75 pence per therm at 1013 GMT, down 0.10 pence since their last settlement.With supply flows at about 258.9 million cubic metres (mcm) per day on Wednesday and demand expected to be about 251.8 mcm, the system was 7.1 mcm oversupplied, National ...

Oil holds below $60 as OPEC, Russia keep pumping LONDON: Brent crude held below $60 a barrel on Wednesday, near 5-1/2-year lows, as major oil producers signalled that they would maintain output despite a supply glut and faltering demand in Russia and Europe.Core Gulf OPEC members have said they are prepared to wait as long as a year for the market to stabilise, undercutting hopes they will step in to stem crude price losses.Oil prices have almost halved over the last six months as ...

Oil prices sink further in Asian trade SINGAPORE: Oil suffered fresh losses in Asia Wednesday, sinking to new multi-year lows as dealers watch Russia's ruble crisis and await the latest US crude supply report, analysts said.US benchmark West Texas Intermediate for January delivery sank $1.16 in afternoon trade to $54.77 while Brent crude for February fell 71 cents to $59.30 on the contract's first day of trading.Brent for January finished down $1.20 at $59.86 in London, after slipping below the psychological $60 ...

Brent drops below $60 as OPEC, Russia keep output steady amid glut SINGAPORE: Brent futures fell more than 1 percent on Wednesday, down for a sixth straight session, with persistent worries of a supply glut keeping prices near a 5-1/2 year low under $60 a barrel.Oil prices skidded in recent weeks, with Brent down nearly $20 since the Organization of the Petroleum Exporting Countries (OPEC) decided to keep output steady in late November.Non-OPEC member Russia, one of the world's top producers, has also indicated that it does ...

India imports 38pc more Iranian oil in Jan-Nov NEW DELHI: India imported about 38 percent more oil from Iran in the eleven months to November as an easing of Western sanctions earlier in the year over Tehran's disputed nuclear activities helped boost shipments, trade sources said.Iran and six powers, the United States, China, Russia, Britain, France and Germany, will resume talks on Wednesday to resolve the 12-year dispute over Tehran's nuclear ambitions, after earlier failing to strike a long-term deal by a self-imposed ...

Australia's Woodside invests in LNG projects, delays Browse decision SYDNEY: Shares in Woodside Petroleum jumped on Wednesday following the Australian energy producer's decision to pay US$2.75 billion to acquire stakes in liquefied natural gas projects from US firm Apache.The deal came as Woodside delayed a decision Tuesday to invest in the Browse gas-export project off Western Australia to take advantage of lower costs for the multi-billion-dollar venture.The oil and gas giant closed 3.02 percent higher to Aus$35.50 (US$28.93) on Wednesday. It fell 2.6 percent ...


Index Closing Chg%
Arrow DJIA 17,804.80 0.15
Arrow Nasdaq 4,765.38 0.36
Arrow S&P 2,070.65 0.46
Arrow FTSE 6,545.27 1.23
Arrow DAX 9,786.96 0.25
Arrow CAC-40 4,241.65 0.18
Arrow Nikkei 17,621.40 2.39
Arrow H.Seng 23,116.63 1.25
Arrow Sensex 27,371.84 0.90

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln