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Asia Pacific crude outlook remains weak SINGAPORE: Demand for Asia-Pacific crude could find some support when trading for December-loading cargoes gains pace this week after Brent's premium to Dubai swaps narrowed, although the overall market outlook remained weak.While Brent crude oil futures fell below $88 a barrel on Monday to their lowest in almost four years, weaker refining margins in Asia are likely to put a lid on demand, traders said."It's a very tricky market. Margins are poor, but flat prices are low," one trader said. "People may be tempted to store crude."Some refiners could be tempted to pick up regional Brent-linked grades rather than Middle East grades, after Brent's premium to Dubai swaps narrowed on Monday for the first time in a week.Brent-Dubai Exchange of Futures for Swaps (EFS) narrowed 56 cents to $1.37 a barrel.A narrower Brent-Dubai spread could push more arbitrage cargoes from Africa to Asia. West African cargoes have been slow to ...

Oil heads for 4-year low on Saudi output signal LONDON: Brent crude oil fell below $88 a barrel on Monday, its lowest in almost four years, after key Middle East producers signalled they would keep output high even if that meant lower prices.Saudi Arabia has privately told oil market participants it can accept oil prices between $80 and $90 a barrel, sources briefed by OPEC's biggest producer have told Reuters.Kuwait's oil minister said on Sunday OPEC was unlikely to cut production to support prices."In ...

Russian oil shift east accelerates, dictated by politics MOSCOW: Russia is diverting more of its crude oil east with deliveries to China hitting a new record last month at the expense of Europe as geopolitical tensions between Moscow and the West dictate the latest shift in flows.As Russia's relations with the West deteriorated over the Ukraine crisis, the European Union and United States imposed wide-ranging sanctions on Russian firms, including oil and gas producers, leaving Moscow trying to forge closer ties with energy-hungry ...

Oil prices down in Asian trade as weak demand weighs SINGAPORE: Oil prices fell in Asian trade Monday on growing concerns about demand as equities tumble on global growth woes and supplies increase.US benchmark West Texas Intermediate for November delivery fell $1.23 to $84.59 -- its weakest for two years -- while Brent North Sea crude lost $1.24 to a four-year low of $88.97."Prospects for global oil demand growth have weakened recently," British bank Barclays said in a market analysis.It said global oil consumption this ...

Statoil sells Shah Deniz stake for $2.25bn to Petronas OSLO: Norway's Statoil has sold a 15.5 percent stake in the Azeri gas project Shah Deniz to Malaysia's Petronas for $2.25 billion, the latest asset the firm is selling to protect its cash flow and returns to shareholders. The deal also includes Statoil's stake in the pipeline carrying gas to markets and two related companies.Its second-quarter production from the Shah Deniz field was 38,000 barrels oil equivalent per day, it said. Copyright Reuters, 2014

Oil falls on Kuwait, Saudi signals, but Chinese data lends support SINGAPORE/SEOUL: Global oil futures lost more than a dollar on Monday after Saudi Arabia and Kuwait signalled a willingness to bear with lower prices to defend market share, although better-than-expected trade data from China pared the losses. Contrary to market expectations, Kuwait said OPEC was unlikely to cut production to support prices, while Saudi Arabia has privately told oil market participants it could be comfortable with $80 for oil. "Judging by the latest comments from ...

Brent oil to revisit low of $87.74 SINGAPORE: Brent oil may revisit a low at $87.74 per barrel touched on Monday as the swift recovery of the price from this low may not sustain.The recovery followed a brief piercing below support at $88.49, the June 22, 2012 low. Many stop orders below this level could have been triggered and thus contribute to the recovery.The downtrend has not been reversed, which remains steady within a falling channel. The lower channel line points a ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln