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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 such as Marathon and Hess - do not traditionally hedge at all, according to market participants. Most have locked in prices for future delivery at just above US$60 through to 2016 in an attempt to assure funding lines ahead of any potential summer slowdown."Increased hedging activity is a sign these firms view the outlook for the market as constructive enough to put down some protection - in a way it is almost a necessary pre-cursor ...

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 ...
Oil prices fall on oversupply concerns NEW YORK: Oil prices retreated Thursday on concerns the market has risen too much given lofty supplies.US benchmark West Texas Intermediate for June delivery shed 62 cents at $59.88 a barrel on the New York Mercantile Exchange.European benchmark Brent crude oil for delivery in June lost 22 cents at $66.59 a barrel in London.Data showing modestly lower US crude inventories amid drilling industry cutbacks have helped push oil prices up about 40 percent since the ...
Oil down with eyes on ample supply, dollar's bounce NEW YORK: Oil futures pulled back on Thursday as an ample global supply picture weighed on prices while Brent's front-month June contract headed to expiration.Trading was choppy as market participants tried to square bullish factors including U.S. inventory data, spot demand for crude in Asia and Middle East unrest with basic supply fundamentals."The market is really in a pause," said Harry Tchillgurian, analyst at BNP Paribas. "The longer the price stays up, the more you ...
Expiring Brent up in choppy trade, US crude down on supply glut NEW YORK: Brent crude futures edged up in choppy trading as the June contract headed to expiration on Thursday, while U.S. crude prices pulled back as an ample global supply picture weighed on sentiment.Prices, especially Brent's, received support from news that Iran's Revolutionary Guard fired warning shorts over a Singapore-flagged oil products tanker in international waters in the Gulf.Trading was choppy as market participants tried to square bullish factors including U.S. inventory data, spot demand ...


Index Closing Chg%
Arrow DJIA 17,131.86 0.28
Arrow Nasdaq 4,838.65 0.17
Arrow S&P 2,017.46 0.13
Arrow FTSE 6,371.18 0.70
Arrow DAX 10,119.83 0.23
Arrow CAC-40 4,688.70 0.27
Arrow Nikkei 18,438.67 1.67
Arrow H.Seng 22,730.93 1.21
Arrow Sensex 26,904.11 0.65

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln