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Oil down as supply offsets dollar, Brent-US spread near week high NEW YORK: Global oil prices fell on Thursday on estimates showing another big supply build at the delivery point for the U.S. crude contract, with trade volatile ahead of the expiry of the front-month in benchmark Brent oil.The reopening of the Houston Shipping Channel for oil imports and the possibility of higher total U.S. oil inventories stemming from a tentative deal to end a U.S. refinery workers strike contributed to market bearishness.Marine traffic in the Houston channel had been partially halted after Monday's collision between a tanker and a bulk carrier, and reopened after responders finished removing liquid cargo from the ship's two breached tanks.In the case of the strike, twelve refineries with a fifth of U.S. refining capacity were hit by work stoppage over the last 40 days. It was the largest such walkout in 35 years."The ship channel opening allows crude to get to refineries and the expectation ...

Petrobras begins six-month output test in Buzios offshore field SAO PAULO: Brazilian state-run oil company Petroleo Brasileiro SA said on Thursday that it began to test output from its Buzios offshore oilfield off Rio de Janeiro in the Santos Basin. Output will be limited to 15,000 barrels a day because systems to produce natural gas are limited, the company said in a statement. Petrobras, as the company is known, said it planned to produce in the area for six months to determine the field's ...
Brent up, US crude down, widening spread after stockpile build NEW YORK: Benchmark Brent oil jumped 2 percent on Wednesday, rebounding from a one-month low and widening its gap to U.S. crude, which closed slightly down after a new record high for oil inventories in the United States.It was the first positive close in Brent after five straight days of losses exacerbated by a surging dollar that made dollar-denominated commodities such as oil costlier for holders of other currencies.While the dollar remained strong at a ...
US crude stockpiles rise to record high for ninth week NEW YORK: US crude stocks rose last week to record highs for the ninth straight week, while gasoline stocks decreased and distillate inventories rose, data from the Energy Information Administration showed on Wednesday. Crude inventories rose 4.5 million barrels in the week to March 6 to 448.9 million, the highest level for this time of year in at least 80 years, the EIA said. Analysts had expected an increase of 4.4 million barrels on average. ...
BHP Billiton tenders 650,000 barrels condensate for April HOUSTON: BHP Billiton Ltd has tendered to sell 650,000 barrels of US processed condensate for April delivery, according to a document received by Reuters on Wednesday. The document said bids must be received by Thursday for the cargo to be delivered April 15-30. It also said the condensate would have an API gravity of 52.Copyright Reuters, 2015 ...
Oil tumbles on dollar; Brent down more in US crude spread play NEW YORK: A rallying dollar punished oil on Tuesday, with Brent prices falling more than U.S. crude as players took profit on recent highs in the spread between the two, traders said.Brent, the London-traded global oil benchmark, slumped more than 3 percent as expectations of a mid-year U.S. rate hike sent the dollar soaring to multi-year highs, making commodities denominated in the greenback costlier for holders of other currencies.In New York, U.S. West Texas Intermediate ...
US oil products futures slump as weak Brent crude weighs NEW YORK: US refined products futures fell on Tuesday as slumping Brent crude prices weighed on the oil complex and a surging dollar helped provide pressure, brokers and analysts said.U.S. April RBOB gasoline futures were off 5.38 cents, or 2.87 percent, at $1.8209 a gallon at 12:49 p.m. EDT (1649 GMT), having slipped as low as $1.8168.April NY ultra-low sulfur diesel futures were down 3.08 cents, or 1.67 percent, at $1.8090 a gallon after slipping ...

 



 
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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
WeeklyMay 04, 2015
Reserves $17.491 bln