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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 2 million barrel draw in crude stocks last week, marking a fourth consecutive week in inventory declines. But some traders think crude stocks may have actually risen last week even as demand for gasoline picked up."If you're looking for a catalyst for price recovery from this data, you may not really get it, and that's why the dollar's been exerting it's strength over oil," said John Kilduff, a partner at New York-based commodities fund Again ...

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 ...
Oil up on 3rd weekly US inventory draw; dollar limits gains NEW YORK: Oil prices rebounded on Wednesday, with US crude snapping a five-day decline, after another weekly inventory draw but gains were still limited by a huge supply overhang and concerns about a strong dollar. US crude stocks fell nearly 2.7 million barrels last week, down for a third consecutive week, as refineries hiked output, the government-run Energy Information Administration (EIA) said. Gasoline and distillate inventories also declined. While the crude draw was nearly triple ...
Petrobras may need to re-publish Q1 results due to accounting issue SAO PAULO: Brazil's state-run oil company Petroleo Brasileiro SA could be forced to re-publish first-quarter results after it included a contract completed after the reporting period, the president of Brazil's markets regulator said on Wednesday. Petrobras, as the company is known, included 1.3 billion reais ($433 million) on its balance sheet related to a contract with state-run utilities company Eletrobras that was only closed on May 7, 37 days after the end of the first ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln