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Middle East crude excess supply, weak China outlook weigh on prices  SINGAPORE: DME Oman's premium to Dubai edged down in the Middle East crude market on Monday as excess supply and weak China economic outlook weighed on prices.Traders are awaiting Qatari al-Shaheen and condensate to commence trading in order to assess Asia's demand for November-loading cargoes.Sellers are pinning their hopes on recovering refining margins and a cold winter to absorb surplus oil although spot differentials for al-Shaheen were likely to remain in discounts amid the supply glut, traders said.The Qatari heavy sour grade was traded at a wide range of discounts between 30 cents and $2.30 a barrel to Dubai quotes for October.Qatari condensate could also come under pressure as alternative light sour Murban had traded at about $2 a barrel to Dubai quotes for November, a trader said. Spot premiums for deodorised field condensate (DFC) have held above $3 a barrel in the past four months on robust demand from ...

Asia Pacific crude growing supply weighs SINGAPORE: The Asia-Pacific crude market stayed under supply pressure on Monday as growing regional production faced competition from excess West African barrels.Supply in the region is growing as Australia and Malaysia are marketing new grades, Balnaves and Kimanis, while Vietnam has excess Su Tu Den to sell in the November spot market.A narrow spread between Brent and Dubai, falling freight rates and spot differentials for West African cargoes have also kept the arbitrage window for ...
US oil to drop to $89.87 SINGAPORE: US oil is expected to slide to $89.87 per barrel, as it has cleared support at $91.14.The support was provided by the 161.8 percent Fibonacci projection level of a downward wave C that started at the July 22 high of $105.25. The next support will be at $89.87, the 176.4 percent level, a break below which will lead to a further loss to $87.81, the 200 percent level.Resistance will be at $92.17, the 150 ...
Brent oil to break support at $95.96 SINGAPORE: Brent oil may break support at $95.96 per barrel and fall more to $95.41, driven by a wave (5).This is the fifth wave of a five-wave cycle falling from the Sept. 1 high of $103.30.It is approaching $95.96, the 123.6 percent Fibonacci projection level, based on the fall from the Sept. 3 high of $103.13 to the Sept. 8 low of $99.36.Experience indicates that the 123.6 percent projection level seldom works as a bottom ...
Indonesia expects output from Exxon Mobil's Cepu block to peak in July/Aug 2015 JAKARTA: Indonesia expects crude output from Exxon Mobil Corp's Cepu oil block to peak in July or August next year, an official from the country's oil and gas regulator said on Monday. The Banyu Urip field, part of the Cepu block near Surabaya in East Java, is expected to produce on average 119,000 barrels per day (bpd) next year. "It will reach a peak in the third quarter, or beginning in July or August, at ...
China stocks slightly lower in morning trade SHANGHAI: Chinese stocks were slightly lower in morning trade on Monday, after data released over the weekend sparked worries over the health of the world's second biggest economy.The benchmark Shanghai Composite Index slipped 0.26 percent, or 6.16 points, to 2,325.79.The Shenzhen Composite Index, which tracks stocks on China's second exchange, edged down 0.05 percent, or 0.66 points, to 1,294.13.China's industrial production growth slowed sharply in August to its lowest level for more than five years ...
Oil prices fall after weak Chinese data SINGAPORE: Oil prices fell in Asia Monday after a sharp slowdown in Chinese industrial production raised concerns about slackening demand in the world's top energy consumer, analysts said. US benchmark West Texas Intermediate for October delivery eased $1.06 to $91.21, while Brent crude for October fell 63 cents to $96.48 in mid-morning trade."Oil has come off a fair bit as investors are taking in the weak Chinese industrial production data released over the weekend," Michael ...

 



 
IndexClosingChg%
ArrowDJIA 17,031.14 0.26
ArrowNasdaq 4,518.90 1.07
ArrowS&P 1,984.13 0.07
ArrowFTSE 6,804.21 0.04
ArrowDAX 9,659.63 0.09
ArrowCAC-40 4,428.63 0.29
ArrowNikkei 15,948.29 0.25
ArrowH.Seng 24,356.99 0.97
ArrowSensex 26,816.56 0.90





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln