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Oil hits 2015 highs as Libya output slows, Saudis raise prices NEW YORK: Oil prices hit their highest for the year on Tuesday, aided by a disruption in Libyan crude exports, higher selling prices for Saudi oil and a weaker dollar that tends to inflate commodity prices.Since April's price rally of between 20 and 25 percent, oil bulls have been pushing the market up on the notion that a supply glut was easing from tightening world production despite continuous builds in U.S. crude stockpiles.U.S. crude settled up $1.47 at $60.40 a barrel, after hitting a 2015 high of $61.10.Brent, a more widely-used oil benchmark, rose $1.10 to $67.55 by 2:34 p.m. EDT (1834 GMT), after scaling the year's peak at $68.40.Still, some were not convinced the recent price gains would have much staying power."I think the market is getting ahead of itself," said Dominick Chirichella, senior partner at the Energy Management Institute in New York."There's plenty of producer hedging going on ...

Oil down after 2015 high; Saudis' Yemen action and dollar weigh NEW YORK: Brent oil hit a 2015 high before settling down with U.S. crude on Monday as Saudi Arabia's plan to halt bombing in Yemen eased tensions over the security of oil Middle East supplies.A stronger dollar, following the largest U.S. factory orders in eight months, had also weighed on crude.Even so, the price drop was cushioned by data from market intelligence firm Genscape showing a further tightening in supplies at the U.S. crude storage ...
Oil prices slip off 2015 highs NEW YORK: Oil prices drifted lower Monday, with the market lacking major news for direction as traders continued to worry about abundant global supplies of crude oil.The US benchmark, West Texas Intermediate (WTI) for June delivery, fell 22 cents to close at $58.93 a barrel on the New York Mercantile Exchange.In London, Brent North Sea crude for June delivery, the global benchmark, settled barely unchanged at $66.45 a barrel, down one cent from Friday's closing ...
Oil off 2015 high on Saudis' Yemen action; Cushing draws help NEW YORK: Oil prices retreated on Monday after key Brent crude hit a 2015 high as Saudi Arabia's plan to halt bombing in Yemen eased tensions over the security of supplies from the Middle East region.A surge in the dollar, following the largest U.S. factory orders in eight months, also weighed on crude.Even so, the price drop was cushioned by data from market intelligence firm Genscape showing a further tightening in supplies at the U.S. ...
Oil prices rise further as dollar drops NEW YORK: Oil prices rose again Thursday on data suggesting the US crude glut is easing as the dollar weakened against the euro.US benchmark West Texas Intermediate for June delivery rose $1.05 to $59.63 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for June delivery gained 94 cents to $66.78 a barrel in London.Analysts said the oil market continued to react to Wednesday's US Department of Energy inventory report, which showed a ...
Oil has best monthly gain in 6 years but rally may hit 'speed bumps' NEW YORK: Oil rounded out its best monthly gain in six years on Thursday, with the two global benchmarks for crude rising between 20 and 25 percent in April, helped by a weaker dollar and bets that a supply glut would ease.After the June-till-January selloff that halved oil prices from highs above $100 a barrel, Brent and U.S. crude posted their strongest recovery this month, rising about $12 each, and hitting their highs for 2015.Those ...
Oil at 2015 highs after first stock draw in 5 months at US hub NEW YORK: Oil prices hit their highest for this year on Wednesday after the first crude stock draw in five months at the U.S. Cushing, Oklahoma hub suggested an oil glut may be starting to ease.Government data showing a smaller-than-expected rise last week in crude inventories throughout the United States also aided sentiment, although some traders felt the market was ignoring bearish elements like higher production.Oil has staged its strongest recovery this month since a ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln