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Oil hits 2015 peak after first US crude drawdown since January NEW YORK: Oil prices hit 2015 peaks on Wednesday amid the first drawdown in U.S. crude inventories since January, before settling off their highs as investors and traders moved to take profits on a multi-week rally.The dollar's tumble had also fed the run-up in oil and other commodities, as those raw materials became more affordable for holders of the euro and other currencies.U.S. crude futures rallied more than $2 to the year's high of $62.58 a barrel, before settling just 53 cents higher at $60.93.Futures of North Sea Brent, the more widely-used benchmark, reached a 2015 peak of $69.63 before turning negative at one point. It settled up 25 cents at $67.77.U.S. gasoline and heating oil futures also hit their highs for the year, before gasoline closed more than 1 percent lower.U.S. crude prices have risen every week since March 13, while Brent has seen weekly gains since April 3.Wednesday's ...

US oil prices rise above $60 on Libya strife NEW YORK: US oil prices shot up above $60 a barrel for the first time this year Tuesday as reports of rising tensions in petroleum-producer Libya fueled bullish momentum.US benchmark West Texas Intermediate for delivery in June jumped $1.47 to $60.40 a barrel on the New York Mercantile Exchange. European benchmark Brent oil for delivery in June advanced $1.12 to $67.52 a barrel in London."It's been strong all day," said John Kilduff, founding partner at ...
Oil hits 2015 highs as Libya output slows, Saudis raise prices NEW YORK: Oil prices hit their highest for the year on Tuesday, aided by a disruption in Libyan crude exports, higher selling prices for Saudi oil and a weaker dollar that tends to inflate commodity prices.Since April's price rally of between 20 and 25 percent, oil bulls have been pushing the market up on the notion that a supply glut was easing from tightening world production despite continuous builds in U.S. crude stockpiles.U.S. crude settled ...
Oil down after 2015 high; Saudis' Yemen action and dollar weigh NEW YORK: Brent oil hit a 2015 high before settling down with U.S. crude on Monday as Saudi Arabia's plan to halt bombing in Yemen eased tensions over the security of oil Middle East supplies.A stronger dollar, following the largest U.S. factory orders in eight months, had also weighed on crude.Even so, the price drop was cushioned by data from market intelligence firm Genscape showing a further tightening in supplies at the U.S. crude storage ...
Oil prices slip off 2015 highs NEW YORK: Oil prices drifted lower Monday, with the market lacking major news for direction as traders continued to worry about abundant global supplies of crude oil.The US benchmark, West Texas Intermediate (WTI) for June delivery, fell 22 cents to close at $58.93 a barrel on the New York Mercantile Exchange.In London, Brent North Sea crude for June delivery, the global benchmark, settled barely unchanged at $66.45 a barrel, down one cent from Friday's closing ...
Oil off 2015 high on Saudis' Yemen action; Cushing draws help NEW YORK: Oil prices retreated on Monday after key Brent crude hit a 2015 high as Saudi Arabia's plan to halt bombing in Yemen eased tensions over the security of supplies from the Middle East region.A surge in the dollar, following the largest U.S. factory orders in eight months, also weighed on crude.Even so, the price drop was cushioned by data from market intelligence firm Genscape showing a further tightening in supplies at the U.S. ...
Oil prices rise further as dollar drops NEW YORK: Oil prices rose again Thursday on data suggesting the US crude glut is easing as the dollar weakened against the euro.US benchmark West Texas Intermediate for June delivery rose $1.05 to $59.63 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for June delivery gained 94 cents to $66.78 a barrel in London.Analysts said the oil market continued to react to Wednesday's US Department of Energy inventory report, which showed a ...

 



 
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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%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln