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Oil falls on prospect of another rise in US inventories NEW YORK: Oil prices fell Tuesday as traders expected a key US stockpiles report to show another increase to a new record high.US benchmark West Texas Intermediate (WTI) for April delivery shed 42 cents, closing at $43.46 a barrel, a six-year low.In London, Brent North Sea crude for May delivery, the global benchmark, fell 43 cents to $53.51 a barrel.Earlier in the day WTI had fallen as low as $42.63 as traders braced for Wednesday's Department of Energy petroleum inventories report.The report is expected to show US crude stockpiles increased by 3.3 million barrels to 452.2 million barrels in the week ending March 13, according to a Bloomberg News survey. They have risen for nine weeks, hitting record after record as US oil production climbs, testing the limits of storage capacity."Growing concerns that US crude stockpiles would see additional builds this week pushed prices lower," said Sucden analyst Kash Kamal.World ...

Oil down in volatile trade after glut worry, dollar limits drop NEW YORK: Oil prices fell on Tuesday, pressured by expectations of a 10th week of record highs in US crude inventories as trade remained volatile from a weaker dollar and short-covering after three days of price drops.Traders and investors forecast that crude stocks in the United States rose by 3.8 million barrels last week to nearly 453 million, an updated Reuters poll showed. That would be the biggest domestic stockpile in at least 80 years. ...
Oil exporters amass record US bond holdings in crude price plunge NEW YORK: The collapse in crude oil prices may have reduced revenues of oil exporters, but it has not soured their appetite for US government debt. Saudi Arabia and other major oil exporters have increased their holdings of US Treasuries to record levels in an effort to counter the effect of the 60 percent drop in oil prices in the last nine months. Global financial assets such as US Treasuries, corporate debt, and equities have ...
Oil plunge forces China's Nexen to cut 400 jobs in Canada, elsewhere OTTAWA: Nexen Energy announced Tuesday it is laying off 400 workers, or 12 percent of its workforce, in North America and Britain in response to the drop in oil prices.In a statement, the wholly-owned Canadian subsidiary of China's state-owned CNOOC Limited said most of the jobs would be eliminated in Canada and the United States, as well as a few dozen in Britain linked to its operations in the North Sea.Chief executive Fang Zhi said ...
Brent down 3pc, US crude at 6-year low on growing stocks, Iran talks NEW YORK: Brent oil fell about 3 percent on Monday and US crude hit six-year lows on signs of higher output in the United States and Libya and a possible nuclear deal that could end sanctions for Iran, allowing more of its oil into the market. A market data provider estimated a fresh build of more than 3 million barrels at the Cushing, Oklahoma delivery point for US crude futures last week, traders said, adding ...
US oil to fall into $45.93-$46.05 range SINGAPORE: US oil is expected to fall into a range of $45.93-$46.05 per barrel, as indicated by its wave pattern and a Fibonacci projection analysis.The contract is riding on a wave c, the third wave of a bigger wave C that started at the March 5 high of $52.40. The wave c has traveled below a support at $47.27, its 100 percent projection level. Chances are this small wave may extend to $45.93, its 138.2 ...
Whiting aims to sell assets as alternative to full sale NEW YORK/WILLISTON: Whiting Petroleum Corp, North Dakota's largest oil producer, has put Texas acreage and pipeline assets up for sale as an alternative to a sale of the full company, according to sources familiar with the matter.This strategy could appease investors outraged by the possibility of any outright sale. It would dispose of assets not central to the core shale operations and generate cash for the company's balance sheet, engulfed by more than $3 billion ...

 



 
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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