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Oil rises after US crude draw but stockpiles still hefty NEW YORK: Oil prices rose on Wednesday as U.S. crude stockpiles slipped for a second straight week, but traders and analysts said inventories were still hefty for this time of year and could undercut the market's advance.Crude futures have risen between 20 and 25 percent over the past six weeks on signs that increasing demand ahead of the peak U.S. driving season could ease a supply glut.U.S. government data showed oil inventories fell 2.2 million barrels in the week to May 8 to below 485 million barrels, compared with analysts' expectations for an increase of 386,000 barrels. Gasoline and distillate stockpiles also declined.Oil futures rallied right after the Energy Information Administration's (EIA) data, but quickly pulled off their highs, with U.S. crude briefly slipping into the negative, as analysts struggled to explain a report that seemed to have few bearish qualities."We are still about 20 percent higher than a year ...

Oil prices climb on weaker dollar NEW YORK: Global oil prices climbed Tuesday, getting a boost from a weaker dollar as traders awaited the latest US crude-oil inventories report.US benchmark West Texas Intermediate for June delivery jumped $1.50 to close at $60.75 a barrel on the New York Mercantile Exchange.Brent North Sea crude for June delivery, a global oil benchmark, advanced to $66.86 in London, up $1.95 from Monday's settlement. Both contracts had dipped Monday on persistent global oversupply worries."Crude oil ...
Oil up about 3pc; volatility threatens NEW YORK: Oil rose as much as 3 percent on Tuesday as a weak dollar lifted commodities denominated in the currency and OPEC raised slightly its forecast for world oil demand growth.Violence in Yemen also boosted crude prices, raising concerns over the security of Middle East supplies.The dollar fell on bond market gyrations, making oil and other commodities priced in the greenback more affordable to holders of the euro and other currencies.The Organization of the ...
Oil jumps more than 2pc; volatility threatens NEW YORK: Oil prices jumped on Tuesday as a weak dollar lifted commodities denominated in the currency and OPEC slightly raised its forecast for world oil demand growth.Violence in Yemen also boosted oil prices, raising concerns over the security of Middle East crude supplies.The dollar fell on bond market gyrations, making oil and other commodities priced in the greenback more affordable to holders of the euro and other currencies.The Organization of the Petroleum Exporting Countries ...
Oil prices dip on drilling data NEW YORK: Oil prices dipped Monday as worries about oversupply returned to the forefront with US data suggesting petroleum drilling is picking up in some areas.US benchmark West Texas Intermediate for June delivery slipped 14 cents to finish at $59.25 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for delivery in June fell 48 cents to $64.91 a barrel in London. Commerzbank said surging oil prices had "noticeably slowed" the trend of ...
Oil under pressure on signs of US shale oil recovery NEW YORK: Oil came under pressure on Monday on signs a multi-week rally was encouraging a rejuvenation in already bloated U.S. shale supplies.U.S. crude prices gained on a weekly basis for an eighth straight week last week while Brent had its first profit-taking in five weeks.In a sign the market was responding to those gains, rigs for drilling oil in the voluminous Permian shale basin rose for the first time this year after months of ...
Oil falls, heads for weekly loss as ample supply weighs NEW YORK: Brent and US crude futures fell on Friday and headed toward weekly losses as ample supply and bulging inventories continued to keep prices in check after a rally to 2015 peaks earlier in the week. "Though the data showed US crude inventories fell last week, the products inventories were up, so it looks like the crude is just being turned into products," said Dominick Chirichella, senior partner at the Energy Management Institute in ...

 



 
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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 21, 2015
Reserves $17.75 bln