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Brent climbs above $84 on Libya disruptions, weaker dollar LONDON: Brent crude rose by $1 to above $84 a barrel on Monday, climbing for a second straight session as protests in Libya disrupted supply and the U.S. dollar fell away from four-year highs.Exports at the Hariga oil port in eastern Libya were halted on Saturday when state security guards began a sit-in protest over unpaid wages.The El Feel oil field in the south-west, also known as the Elephant field, was shut down on Sunday due to a power outage, while the El Sharara field, which was halted last week due to political violence, remains closed."These developments highlight the ongoing chaos in Libya, and we should see a production level of 600,000 to 700,000 barrels a day as the new normal," said Carsten Fritsch, analyst at Commerzbank in Frankfurt.Brent crude for December was up $1 at $84.39 per barrel by 0925 GMT. U.S. crude was up 70 cents to $79.35 ...

Middle East crude steady ahead of January trade SINGAPORE: The Middle East crude market held steady on Monday as traders looked ahead to the al-Shaheen tender to kick start January trade.Tasweeq will close the tender on Wednesday to sell five cargoes of al-Shaheen with bids valid until Friday, a trader said. The cargoes will load on Jan. 20-21, 23-24 and 26-27 with the remaining two loading on Jan. 29-30.Saudi Arabia, the world's top crude exporter, will supply full contracted volumes of crude oil ...

UK gas prompt prices rise on increased demand from utilities LONDON: Prompt natural gas prices in Britain rose on Monday morning as outages at nuclear plants boosted demand from gas-fired power generators.Prices for within-day delivery were trading at 54.15 pence per therm at 0945 GMT, up 0.9 pence since their last settlement. Prices for delivery on Tuesday were up 0.85 pence at 54 pence per therm.With supply flows at about 215 million cubic metres (mcm) per day on Monday and demand expected to be about ...

Fall in oil prices costs Iraq 27pc of expected revenues BAGHDAD: The sharp decline in global oil prices has "greatly affected" Iraq, costing the country 27 percent of its projected revenues for the year, the oil ministry said on Saturday."The Iraqi economy and the federal budget were greatly affected by the projected decline in revenues, and more than 27 percent of its projected revenues for this year were lost," the ministry said.Oil prices have declined sharply since June, hitting the state coffers of energy-dependent countries.Iraq ...

Oil prices creep higher before key US jobs data LONDON: World oil prices nudged higher on Friday as dealers awaited key jobs data in the United States and digested OPEC's demand forecast downgrade.Brent North Sea crude for delivery in December rose 17 cents to $83.03 a barrel around midday in London.US benchmark West Texas Intermediate for December advanced 29 cents to $78.20 a barrel compared with Thursday's closing level."Today, all eyes are on the US employment data which will set the tone for (the) ...

Statoil drills another dry well in Norwegian Arctic OSLO: Norwegian oil and gas firm Statoil drilled a dry well in the Norwegian Arctic, the Norwegian Petroleum Directorate said on Friday, capping a disappointing campaign in the area which has mostly yielded dry wells. Statoil holds 35 percent of the licence, 210 kilometres northeast of Hammerfest, while Spike Exploration has 30 percent, Explora Petroleum 20 percent and GDF Suez 15 percent. Copyright Reuters, 2014

Brent drops below $83, but US jobs data could buoy prices SINGAPORE: Brent crude dropped for the second straight session on Friday, dragged below $83 by worries over a stronger US dollar, but likely upbeat data on US nonfarm payrolls for October may lend support to oil demand, said analysts. The dollar held near a four-year high against a basket of major currencies, with its near-term fortunes hinging on whether jobs data will add to or temper optimism about the US economy's outlook. A stronger greenback ...


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln