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Oil prices fall as Greece debt crisis talks drag on NEW YORK: Oil prices fell Thursday as traders kept an eye on Greece's prolonged negotiations with creditors to avoid a debt default and possible exit from the eurozone.US benchmark West Texas Intermediate for August delivery fell 57 cents to $59.70 a barrel.Brent North Sea crude for August, the global benchmark, closed at $63.49 a barrel in London, down 29 cents from Wednesday's settlement. "The Greece headlines continue to dominate the trade... and I think there is an inability (to rally) when there's this overhanging Europe," said Phil Flynn of Price Futures Group.At Citi Futures, Tim Evans said that traders were bracing for possible reactions to Greek debt talks "although we see a fatigue in the markets running parallel to the fatigue of finance ministers trying to negotiate a deal."Greece and its European Union and International Monetary Fund creditors failed to break the deadlock in emergency talks on Thursday to reach ...

Crude down again on oil products weakness; Greece, Iran eyed NEW YORK: Crude oil fell for a second straight day on Thursday, weighed by weaker U.S. refined fuels markets and potential negative impact from Greece's debt crisis on European energy demand.Worries of a possible glut emerging in U.S. gasoline and diesel supply after large builds in both last week added to concerns that millions of barrels of Nigerian crude were floating around the Atlantic Basin looking for buyers.Brent crude settled down 29 cents, or 0.5 ...
Oil prices fall as US ouput remains at record highs NEW YORK: Oil prices fell Wednesday as the weekly US industry report showed domestic output still high and commercial fuel inventories generous.In New York US benchmark West Texas Intermediate for August delivery lost 74 cents at $60.27 a barrel in NYMEX trade.In London Brent crude for August dropped 96 cents to $63.49 a barrel.The weekly official US oil report showed domestic crude output edged up to a record 9.6 million barrels a day in the ...
Oil down on gasoline buildup fear; Greek debt worry NEW YORK: Crude oil futures fell for a second straight session on Monday on concerns that U.S. demand for gasoline may fade after a strong stretch and on worries about the potential fallout from the Greek debt crisis.The slide came despite data from market intelligence firm Genscape suggesting a big draw on the week on stockpiles at the Cushing, Oklahoma delivery point for U.S. crude futures.Gasoline fell almost 2 percent, retreating from last week's near ...
Brent edges up, US crude off low as Fed weakens dollar NEW YORK: Brent crude edged up and U.S. crude eased on Wednesday in volatile trading as both contracts trimmed losses after the Federal Reserve left the outlook for interest rate increases uncertain, brokers and analysts said.The Fed said the economy was likely strong enough to support an interest rate increase by the end of the year, although it lowered expectations for 2015 economic growth because of a weak start to the year."The Fed again cited ...
US crude oil up as tropical storm goes ashore in Texas NEW YORK: US crude prices rose on Tuesday as a tropical storm moved ashore in the oil-producing state of Texas, but global oversupply limited gains and pressured Brent futures.Expectations that U.S. crude inventories fell again last week and strong RBOB gasoline futures also lent support.U.S. July crude rose 45 cents to settle at $59.97 a barrel, having swung from $59.42 to $60.37.Brent front-month August crude fell 25 cents to settle at $63.70, off its $64.41 ...
Mexico finds large shallow water oil fields MEXICO CITY: Mexican state energy giant Pemex announced Wednesday its biggest exploration success in five years, the discovery of new shallow water oil fields that could yield 200,000 barrels per day.The fields were found in four locations in the Gulf of Mexico and production could begin in around 16 months, helping Pemex reverse declining output, said company director Emilio Lozoya.Altogether, the locations off the coast of Tabasco and Campeche states are estimated to contain 350 ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln