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Brent oil downs ahead of  Fed easing monetary polic NEW YORK: Brent crude oil fell on Tuesday pressured by the spectre of the US Federal Reserve easing its monetary stimulus program while US oil rose on the expectation for a third weekly inventory draw. The diverging prices narrowed the spread between the two benchmarks by nearly $2.50 per barrel from the previous session's settlement. The Fed will meet on Tuesday and Wednesday, and investors are hoping for a better sense of when it may start to reduce its $85 billion-a-month, bond-buying program. A cut in the progam would boost the dollar, weighing on dollar-denominated commodities, including oil, and indirectly curb investment flows into those markets. "People seeing the taper ending is giving a little bit of bearish sentiment to the market," said Michael Lynch, oil analyst and president of consultancy Strategic Energy & Economic Research Inc in Winchester, Massachusetts. Traders also sold Brent to take profit after prices gained ...

Brent oil slips on Fed, spread narrows as US oil rises NEW YORK: Brent crude oil fell on Tuesday pressured by the specter of the U.S. Federal Reserve easing its monetary stimulus program while U.S. oil rose on the expectation for a third weekly inventory draw.The diverging prices narrowed the spread between the two benchmarks by nearly $2.50 per barrel from the previous session's settlement.The Fed will meet on Tuesday and Wednesday, and investors are hoping for a better sense of when it may start to ...
Mexico says oil sector to be opened up immediately MEXICO CITY: Mexico's controversial energy reform breaking a 75 year national oil monopoly will be enacted immediately now that a majority of states have approved it, the president said Monday.A standing committee in Congress still has to OK the change, designed to lure foreign investment.But this is expected in a matter of days "and once it happens I will promulgate the reform immediately," President Enrique Pena Nieto said during a visit to Turkey, according to ...
Oil prices rise on Libya disruptions NEW YORK: Oil prices jumped Monday after armed protesters in Libya refused to lift a months-long blockade of key oil terminals in the eastern part of the country.US benchmark West Texas Intermediate for January delivery gained 88 cents to $97.48 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for January delivery jumped $1.64 to $110.47 a barrel in London."The big story is about Libyan oil production remaining off the market," said Andy ...
US natgas futures slip on profit-taking, weather NEW YORK: US natural gas futures slid on Monday on forecasts for reduced heating demand this week and on profit-taking after prices reached seven-month highs last week. "Natural gas futures are receding this morning on a combination of a round of profit-taking selling motivated by what looks like a moderating weather pattern working its way across the country over the next week or so," Energy Management Institute partner Dominick Chirichella said in a ...
U.S. natgas futures slip 2pc on profit-taking, weather NEW YORK: U.S. natural gas futures slid more than 2 percent in early trading on Monday on forecasts for reduced heating demand this week and on profit-taking after prices reached seven-month highs last week."Natural gas futures are receding this morning on a combination of a round of profit-taking selling motivated by what looks like a moderating weather pattern working its way across the country over the next week or so," Energy Management Institute partner Dominick ...
US oil ouput to surge to 9.6mn bd by 2016 WASHINGTON: US oil production will continue its surge to hit a record 9.6 million barrels a day in 2016, the US Energy Department said Monday in its annual forecast.Riding the gains in production from "tight" oil -- such as shale reserves tapped by hydraulic fracturing, or fracking, US crude output will add another 800,000 barrels a day over the next two years, the department's Energy Information Administration said.After the 2016 peak, which will top the ...

 



 
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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