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Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Friday after the OPEC oil cartel slashed its longer-term global demand outlook, while a stronger dollar also weighed, analysts said. The benchmark US futures contract, West Texas Intermediate for December delivery, dropped 28 cents to $77.63 while Brent crude for December eased 40 cents to $82.46 in late-morning trade.The Organization of the Petroleum Exporting Countries estimated in its annual world outlook Thursday that demand for its crude will fall from just above 30 million barrels per day in 2013 to 28.2 million in 2017, before starting to rise again.The 12-nation group said the United States and Canada are the primary drivers of non-OPEC output growth, in part due to shale-oil production. Singapore's United Overseas Bank said "US and global crude prices resumed its decline" after the release of the report, adding to heavy losses earlier this week owing to price cuts by Saudi Arabia.Prices ...


Oil prices dip LONDON: Oil prices eased Thursday in choppy deals as investors digested upbeat US inventories figures ahead of European interest rate decisions and fresh economic data.Brent North Sea crude for delivery in December handed back 18 cents to $82.77 a barrel nearing midday in London.US benchmark West Texas Intermediate for December dipped 21 cents to $78.47 a barrel compared with Wednesday's closing level.New York crude had rebounded sharply Wednesday after the US Energy Information Administration (EIA) ...

Brent falls below $83 on oversupply LONDON: Brent crude oil fell below $83 a barrel on Thursday, as apparent momentum towards a deal between Iran and world powers over its nuclear programme, and a U.S. inventory build, added to concerns of oversupply.U.S. Secretary of State John Kerry said on Wednesday that a deal between Iran and the P5+1 group of countries would be harder to achieve after a Nov. 24 deadline, suggesting a degree of urgency ahead of planned talks in ...

UK gas prompt prices edge lower as supply outstrips demand LONDON: Prompt natural gas prices in Britain fell on Thursday morning as higher imports from the Netherlands contributed to an oversupplied system.Prices for within-day delivery were trading at 51.70 pence per therm at 0930 GMT, down 0.30 pence since their last settlement. Prices for delivery on Friday were down 0.65 pence at 51.45 pence per therm.With supply flows at about 243.4 million cubic metres (mcm) per day on Thursday and demand expected to be about ...

Asia-Pacific crude overhang persists; import tenders eyed SINGAPORE: The Asia-Pacific crude market held steady on Thursday as traders awaited the results of import tenders to gauge direction for January trading.Several December-loading cargoes were still uncommitted. Malaysia's Petronas this week offered Kikeh to some buyers, but it was unclear if a deal had been done.The state-owned company did not offer its new grade Kimanis to the market for December loading, another trader said.Thailand's PTT had yet to award a tender to buy 600,000 ...

Brent steady below $83 as oversupply neutralises shocks LONDON: Brent crude oil was steady below $83 a barrel on Thursday as apparent momentum towards a deal between Iran and world powers over its nuclear programme and higher U.S. inventories offset supply shocks in the Middle East.U.S. Secretary of State John Kerry said on Wednesday that a deal between Iran and six world powers would be harder to achieve after a Nov. 24 deadline, suggesting a degree of urgency ahead of planned talks in ...

Middle East crude-Dec Murban weaker SINGAPORE: Differentials for Abu Dhabi's Murban crude fell on Thursday due to weak demand in Asia.Shell sold a cargo of Murban for December-loading at around 70 cents a barrel below its official selling price (OSP), traders said. The cargo may have been sold to SK Energy, one trader said.The grade was traded at a small premium last month after cuts to its OSP, but slid into a discount. In late-October, Shell had offered Murban in ...


 



 
Index Closing Chg%
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln