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Oil ends up in choppy trade after 4th weekly US drawdown NEW YORK: Oil prices rose in choppy trade on Thursday, snapping two days of sharp losses, after data showed a fourth weekly drawdown in US crude stocks. The US Energy Information Administration (EIA) said crude oil inventories fell by 2.8 million barrels last week, ahead of Monday's Memorial Day holiday, which unofficially kicked off the peak summer driving season in the United States. Going by EIA data, it was a fourth straight week of declines in domestic crude stocks. The draw was well above the decline of 857,000 barrels forecast in a Reuters survey. Industry group American Petroleum Institute, meanwhile, estimated a build of around 1.3 million barrels last week.Despite that, oil bulls could barely push the market higher right after the EIA data. US crude was down most of the day and Brent was only up slightly, both rallying just minutes before the close. US crude settled up 17 ...


Oil drops as dollar rally resumes LONDON: Oil prices fell to their lowest levels in a month on Thursday as the dollar resumed a 10-day rally, making fuel more expensive for holders of other currencies.The dollar has risen more than 4 percent against a basket of currencies over the last 10 days, helping accelerate a fall in oil prices from a five-month high early in May.The dollar spiked after a stronger-than-expected rise in U.S. pending homes sales in April, traders said."Much ...

Oil market climbs before US energy report LONDON: World oil prices rose Thursday on expectations that the latest US stockpiles report will show a further dip in crude reserves as traders worry about a global oversupply, analysts said. In early afternoon London deals, Brent North Sea crude for July added 29 cents to $62.35 per barrel, compared with Wednesday's closing level.US benchmark West Texas Intermediate (WTI) for delivery in July won 24 cents to $57.75 a barrel.The Department of Energy's weekly petroleum ...

Oil steadies ahead of US inventory data LONDON: Oil prices steadied on Thursday after a two-day slide as investors awaited data from the U.S. Energy Information Administration (EIA) to see how American oil production was responding to a recent surge in prices.Industry group American Petroleum Institute (API) said on Wednesday that U.S. crude oil inventories rose by 1.3 million barrels last week, following three weeks of withdrawals.If that is confirmed by EIA figures due at 11 a.m EDT (1500 GMT), it could ...

Middle East Crude-Cash Dubai, DME Oman flip to premiums SINGAPORE: Cash Dubai strengthened in the Middle East crude market on Thursday, boosted by purchases from Shell and Unipec on the window.The benchmark flipped into a premium of about 40 cents against swaps after Shell bought July Dubai partials from Chinaoil at $61.10 a barrel, traders said. DME Oman also strengthened to a premium against Dubai swaps.The July-September spread narrowed to parity after Unipec bought a September partial from Trafigura at $61.10 a barrel.The narrower ...

Asia-Pacific Crude-Refinery demand weakens SINGAPORE: Spot differentials in the Asia-Pacific crude market came under pressure from weakening refinery demand, traders said on Thursday.While Asian refining margins have improved from last month , demand from typical buyers of regional sweet crude in Southeast Asia and Australia has been hit by scheduled maintenance or shutdowns of refineries.Spot premiums for Vietnam's Chim Sao and Bach Ho grades fell more than $1 a barrel from the previous month, traders said, although the exact ...

Oil prices higher in Asian trade SINGAPORE: Oil prices rose in Asia Thursday on expectations that the latest US stockpiles report will show a further dip in crude reserves as traders worry about a global oversupply, analysts said. US benchmark West Texas Intermediate for July delivery rose 21 cents to $57.72 while Brent crude for July gained 46 cents to $62.52 in late-morning trade. The Department of Energy's weekly petroleum report, usually released on Wednesdays, will be issued on Thursday owing ...


 



 
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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%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln