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Oil prices gain; US crude stocks fall 2.1mn barrels NEW YORK: Oil prices gained on Wednesday, with the New York WTI benchmark barely higher as the US weekly stockpiles report showed a fall in inventory.The main US contract, West Texas Intermediate crude for October delivery, added two cents at $93.88 a barrel.Brent North Sea crude for October meanwhile rose 22 cents to $102.72 a barrel in London deals.The main news was a 2.1 million barrel fall in US commercial crude-oil stockpiles, larger than expected.Stocks at the Cushing, Oklahoma, depot where WTI is delivered rose, however, by 500,000 barrels.The Energy Department's weekly report showed a 0.4 percent increase in total petroleum inventories, including distillates and gasoline, in relation to average daily demand. The simmering conflicts in Ukraine and the Middle East seemed not to bother markets.Desmond Chua, market analyst at CMC Markets in Singapore, said investors have been buoyed by "a string of strong economic data in the US"Copyright AFP ...

Crude oil drops on weak US gasoline demand, Cushing build NEW YORK: Crude oil futures edged lower on Wednesday after a report showed declining US gasoline demand in the world's top oil consumer and a build at the key Cushing, Oklahoma storage hub.In its weekly report, the US Energy Information Administration said US crude oil stocks fell by a greater-than-expected 2.07 million barrels last week, but inventories at Cushing, the delivery point for US crude futures, rose 508,000 barrels.The four-week average for gasoline demand fell ...
US oil climbs as traders bet on fall in inventories NEW YORK: Oil prices traded mixed on Tuesday, with New York crude lifted as investors bet on another decline in commercial inventories in the United States, the world's largest oil consumer.US benchmark West Texas Intermediate (WTI) for October delivery gained 51 cents, closing at $93.86 a barrel.Brent North Sea crude for October, the European main contract, slipped 15 cents to $102.50 a barrel in London trade.The WTI crude oil contract gained "in anticipation that US ...
Canada's Ivanhoe Energy to terminate Ecuador contract QUITO: Ecuador's state-run Petroamazonas oil company is in the process of terminating a contract with Canada's Ivanhoe Energy, officials said Monday.Ivanhoe has held a 30-year oil exploration contract in Ecuador's Amazon jungle, at a price of $37 per barrel."We are currently in the process of terminating the contract with Ivanhoe" and "thinking of how to redefine exploration and find more investors," Petroamazonas manager Oswaldo Madrid told the El Comercio newspaper.Pedro Merizalde, the South American country's ...
Oil prices trade mixed NEW YORK: Oil prices traded in a mixed fashion Monday, with little in the way of major news moving the markets.US benchmark West Texas Intermediate for October fell 30 cents to close at $93.35 a barrel on the New York Mercantile Exchange.In London trade, Brent crude for October closed at $102.70, up 41 cents from Friday.The market is "really indecisive today," said Robert Yawger of Mizuho Securities USA, noting "relative weakness in the WTI while ...
US crude falls in light trading on weak economic data NEW YORK: Brent crude oil rose on Monday and US crude fell in light trading, as support from geopolitical tensions in Ukraine and Libya countered ample supplies and anticipated weak demand after a slew of disappointing economic data from the United States and Europe."Liquidity is down because of the holiday in London and the usual August vacation time, And while the market continues to see increasing geopolitical risk in Libya and the Russia, Ukraine situation.Traders ...
Oil prices advance on signs of stronger US demand NEW YORK: Global oil prices rebounded on Wednesday from multi-month lows after a surprisingly big drop in US oil inventories.US benchmark West Texas Intermediate for September delivery jumped $1.59 to $96.07 a barrel on the New York Mercantile Exchange, recovering from a seven-month low hit Tuesday.European benchmark Brent oil for October delivery gained 72 cents to close at $102.28 a barrel in London, rallying from the 14-month low the day before."Crude stocks dropped a lot ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln