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Oil up 3pc as dollar rally stalls and US inventories ease NEW YORK: Oil rose 3 percent on Friday, as a rally in the dollar faded and after data from a day ago showed a fourth straight weekly draws in US crude oil stockpiles. But crude prices were still on track to finish the week and the month lower on concerns that the world remained awash in oil.With the Organization of the Petroleum Exporting Countries widely expected not to cut production at its June 5 meeting, prices could see more pressure, especially if the dollar surges again, traders said. Oil is traded in dollars and the greenback's strength determines demand for the commodity from holders of other currencies. Brent was up $2, or 3.2 percent, at $64.58 a barrel by 11:13 a.m. EDT (1513 GMT). US crude rose by $1.70, or 3 percent, to 59.38. The dollar was almost flat in Friday's trade against a basket of major currencies, after having ...

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 ...
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 ...


Index Closing Chg%
Arrow DJIA 18,126.12 0.20
Arrow Nasdaq 5,097.98 0.17
Arrow S&P 2,120.79 0.13
Arrow FTSE 7,040.92 1.11
Arrow DAX 11,677.57 0.79
Arrow CAC-40 5,137.83 0.86
Arrow Nikkei 20,551.46 0.39
Arrow H.Seng 27,454.31 2.23
Arrow Sensex 27,506.71 0.21

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln