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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 down about 3pc again on dollar, awaits supply data NEW YORK: Oil prices fell by up to 3 percent for a second straight day on Wednesday as a resurgent dollar weighed on the market ahead of US inventory data. Gasoline and heating oil fell more than 2 percent each, extending the slide across the fuels complex, on bets that US refineries will be operating at full swing with the end of maintenance season. The dollar soared against major currencies on speculation about the first ...
Oil down on dollar strength; awaits weekly supply data NEW YORK: Oil was under pressure on Wednesday as a resurgent dollar weighed on crude prices ahead of inventory data expected to show whether fuel demand was accelerating with the peak U.S. driving season under way.The American Petroleum Institute (API), an industry group, will issue at 4:30 p.m. EDT (2030) estimates on crude and oil products in storage ahead of Thursday's official data from the U.S. government.Analysts polled by Reuters forecast on the average a ...
US oil to retest support at $57.71 SINGAPORE: US oil is expected to retest support at $57.71 per barrel, with a good chance of breaking below this level and falling further to $57.27.These two levels are identified respectively as the 138.2 percent and the 161.8 percent Fibonacci projection levels of a downward wave 3, the third wave of a bigger wave a that developed from the May 21 high of $60.94.The wave a could eventually travel to $56.57, the 200 percent projection ...
Oil falls as dollar strengthens, ample supply weighs NEW YORK: Oil prices fell 2 percent on Tuesday as the dollar's sharp rally weighed on dollar-denominated crude oil futures along with concerns that a recent rally might keep US producers active. The US dollar index rallied as Greece's financial crisis and signs of increasing opposition to austerity in Spain pressured the euro. "Pressuring oil is the dollar's strength on the concerns about Greece being able to make its debt payments and the US Federal ...
Oil rally drives producer hedging NEW YORK: A rally in oil prices that has pushed WTI spot levels above US$60 has drawn a spate of hedging activity as producers look to lock in 2016 cashflows.California Resources Corporation, Cenovus Energy, EP Energy, EQT Corporation, Marathon Oil, Hess Corporation, Gulfport Energy, and Whiting Petroleum all initiated new hedges or added to existing hedges in the first quarter on the back of a US$10 rally from early January.Several - most notably higher-rated firms ...
Oil prices gain as firm demand outweighs dollar strength CALGARY: Crude oil futures rose on Monday as firm global demand offset a strong dollar, although a holiday in the United States and much of Europe kept trading muted. Front-month Brent crude gained 53 cents to $65.90 a barrel by 1750 GMT, after touching an intraday low of $64.72. US crude was up 8 cents at $59.80 a barrel. The market drew support from figures showing strong demand across Asia and the United States. "Global ...

 



 
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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%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln