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Oil up 3pc on weak dollar, speculative buying, Yemen NEW YORK: Oil settled up about 3 percent on Wednesday as a weak dollar, fighting in Yemen and speculative buying boosted crude prices in spite of US inventories building to record highs for an 11th week. The dollar fell after disappointing US durable goods orders for February. A weaker dollar makes commodities denominated in the greenback cheaper for holders of other currencies, typically boosting demand for such raw materials. The dollar also fell against the euro after Europe's largest economy Germany reported that its business morale rose for a fifth month in a row in March, hitting the highest since July 2014. In France, business morale peaked at near three-year highs. Fighting in Yemen raised concerns about the security of oil shipments from the Middle East. Analysts worry a proxy war might break out on the Arabian peninsula, home to the world's biggest oil fields, if the conflict draws in ...

Shell plans turnaround at Scotford, Alberta, upgrader in spring 2015 CALGARY: Royal Dutch Shell Plc will carry out a planned turnaround at its 255,000 barrel per day Scotford upgrader in northern Alberta during spring of this year, a company spokesman said on Wednesday. Shell spokesman Cameron Yost said the turnaround was an activity that took place every four to five years. "We do have a turnaround this year. It's not small-scale maintenance," Yost said, although he declined to give details of how much production would ...
Oil gains on weaker dollar, though US storage build limits rise NEW YORK: Oil prices rose on Wednesday, tracking a weaker dollar despite U.S. government data showing a higher-than-expected build in crude inventories last week.Benchmark Brent and U.S. crude oil were both up about half a percent, although the upside was capped by the bearish report on U.S. crude stockpiles.Crude inventories rose by 8.2 million barrels last week, the U.S. Energy Information Administration said, above analysts' calls for a 5.1-million build. It was the 11th straight ...
Brent slides, US crude flat on resilient dollar NEW YORK: Brent crude oil fell on Tuesday as the dollar regained its footing against the euro and fears of global oversupply persisted, while U.S. crude's losses were limited by strong domestic economic data.The fall in Brent came after the dollar reversed early losses to rise 0.4 percent against the euro, making dollar-priced commodities more expensive in the euro zone.Brent futures for May delivery fell 80 cents to trade at $55.10 at 11:43 EDT (1643 ...
Oil rises as weakening dollar outweighs OPEC oversupply NEW YORK: US crude oil climbed above $47 a barrel on Monday as a declining dollar offset global oversupply concerns stemming from an announcement by Saudi Arabia that it was pumping around 10 million barrels per day, near a record high.After falling earlier in the day, U.S. WTI crude rebounded to trade 57 cents higher at $47.14 at 11:53 a.m. EDT (1553 GMT). Brent crude oil futures were up 56 cents at $55.88 after hitting ...
Oil jumps on weaker dollar; US crude up about 4pc NEW YORK: Oil prices jumped on Friday, with US crude up about 4 percent, after the dollar fell on interest-rate uncertainty, lifting demand for dollar-denominated commodities from holders of other currencies.Benchmark Brent oil was on track to end two straight weeks of losses while US crude was headed for its first positive week in five.Iran's struggle to reach a nuclear deal with world powers supported oil prices, since it looked as if sanctions on its ...
Oil falls as dollar up, Kuwait sees OPEC output steady NEW YORK: Oil prices tumbled on Thursday as a rebounding dollar and Kuwait's stance that OPEC had no choice but to keep producing in an oversupplied market undercut the previous day's rally. Benchmark Brent oil settled down nearly 3 percent while US crude lost almost 2 percent, weighed by the dollar's rise against most currencies. In the previous session, Brent rose nearly 5 percent and US crude about 3 percent as the dollar suffered its ...

 



 
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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%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln