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Oil up on Libya; US crude volatile before inventory data NEW YORK: Oil rebounded on Tuesday from the previous session's tumble, lifted by fighting that threatened Libya's oilfields, although U.S. crude struggled to hold to gains due to record crude inventories.Higher prices imposed by Saudi Arabia for its crude buyers in Asia, the U.S. and northwest Europe did not immediately boost benchmark Brent and U.S. oil futures, although some traders saw the move as supportive.Brent jumped almost 3 percent, trading firmly above the $60-a-barrel support level, as rival Libyan forces carried out tit-for-tat air strikes on oil terminals and an airport, reviving fears over supplies from the OPEC member.Brent had tumbled nearly 5 percent on Monday, its biggest loss in a month, on speculation that a quick nuclear deal between Iran and the West could ramp up Tehran oil exports that would add to global inventories.U.S. crude pared much of Tuesday's early gains on worries that U.S. stockpiles had reached ...

Oil up as Netanyahu blasts Iran in speech; Libyan forces fight NEW YORK: Oil rebounded on Tuesday as Israeli Prime Minister Benjamin Netanyahu warned the Obama administration against accepting a weak nuclear deal with Iran, and rival Libyan forces targeted oil terminals in the African nation.Higher prices imposed by Saudi Arabia for its crude buyers in Asia, the United States and northwest Europe were another positive development, traders said, although some had expected benchmark Brent and U.S. oil futures to rally even more on that.U.S. crude ...
Oil tumbles on Iran, Libya; worry about high supply returns NEW YORK: Brent futures fell 5 percent, its most in a month, on Monday as speculation of a nuclear deal that could lift Iran's sanctions and boost its oil exports brought worries about high supplies back to the market.Rising Libyan crude output and a firmer dollar also weighed on Brent.U.S. crude futures also fell but only slightly, supported by data suggesting a smaller-than-expected build last week in the Cushing, Oklahoma delivery point for oil.Players were ...
Oil prices drop on lofty supplies NEW YORK: Oil prices fell Monday on renewed concerns about excess global supplies, with the European benchmark contract falling especially hard following a surge late last week.US benchmark West Texas Intermediate (WTI) for April delivery dipped 17 cents to $49.59 a barrel on the New York Mercantile Exchange.European benchmark Brent North Sea crude for April delivery dived $3.04 to $59.54 a barrel in London.Tim Evans, energy analyst at Citi Futures, cited a "partial recovery " ...
Brent down 4pc on Iran, Libya; US crude up on spread play NEW YORK: Brent crude tumbled nearly 4 percent on Monday on speculation of a nuclear deal that could boost Iran's oil exports, and U.S. crude rose by almost 2 percent as traders bet the gap between the two would narrow.Iranian Foreign Minister Mohammad Javad Zarif said a deal on Iran's nuclear programme could be concluded this week if the United States and other Western countries had sufficient political will and agreed to remove sanctions on ...
Brent tumbles on Iran, Libya; US crude up on spread play NEW YORK: Brent crude tumbled more than 3 percent on Monday on speculation of a nuclear deal that could boost Iran's oil exports, and U.S. crude rose by around 1 percent as traders bet the gap between the two would narrow.Iranian Foreign Minister Mohammad Javad Zarif said a deal on Iran's nuclear programme could be concluded this week if the United States and other Western countries had sufficient political will and agreed to remove sanctions ...
Brazil's Braskem to sign revised naphtha contract with Petrobras RIO DE JANEIRO: Brazil's Braskem SA, Latin America's largest petrochemical company, said on Friday it had agreed to a revised naphtha supply contract with shareholder Petrobras, staving off a threatened shutdown of its Brazilian plants.The contract with Petroleo Brasileiro SA, as Petrobras is formally known, extends the supply agreement until Aug. 31, 2015, Braskem said in a statement sent to reporters by email.It also said the revised contract will use a price retroactive to March ...

 



 
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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
WeeklyApril 16, 2015
Reserves $16.818 bln