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South Korea's commercial oil storage facility fully leased SEOUL: South Korea's energy ministry said on Tuesday the country's 8.2 million barrels of commercial oil storage facility has been fully leased, although actual storage is below 40 percent as of last month.Oil traders are scrambling to secure leases to stockpile deeply discounted prompt crude, with the hope of selling them at higher prices later thanks to a market structure known as contango.Demand on the storage facility located in the city of Yeosu, over 300 km south of Seoul, has surged since October 2014 as the market turned to contango, a market structure in which futures prices are higher than those of prompt month, the ministry said in a statement.The ministry statement noted the inventory is now fully leased, up from 88 percent in 201.Copyright Reuters, 2015 ...

Brent crude up $1 to over $60.50 as global markets firm SINGAPORE: Brent crude oil prices raised more than a dollar to above $60.50 a barrel on Tuesday, tracking firmer Asian markets, but analysts warned the market remained oversupplied.Most Asian stock markets edged up on Tuesday, bolstered by a record day on Wall Street, while a resurgent yen helped knock the US dollar index off an 11-year high, making commodity priced in the greenback slightly cheaper for holders of other currencies.Data showing China's January crude oil ...
Oil prices rise in Asian trade SINGAPORE: Oil prices rose in Asia Tuesday but gains were capped as dealers sat on the sidelines eyeing negotiations aimed at ending a strike at some US crude refineries, analysts said. US benchmark West Texas Intermediate rose 36 cents to $49.95 while Brent crude gained 89 cents to $60.43 in afternoon trade. Talks to settle a strike by workers at three major US refineries operated by Royal Dutch Shell are set to restart Wednesday following ...
Oil prices rise in Asian trade SINGAPORE: Oil prices rose in Asia on Tuesday but gains were capped as dealers sat on the sidelines eyeing negotiations aimed at ending a strike at some US crude refineries, analysts said. US benchmark West Texas Intermediate rose 32 cents to $49.91 while Brent crude gained 77 cents to $60.31 in mid-day trade. Talks to settle a strike by workers at three major US refineries operated by Royal Dutch Shell are set to restart Wednesday ...
China's deep-sea oil rig drilling off Myanmar BEIJING: China's flagship deep-sea oil rig Haiyang Shiyou No.981 is drilling offshore Myanmar in the Andaman Sea, tackling the deepest exploration well it has undertaken so far, according to a report by the rig's owner, state energy group CNOOC.The $1-billion, semi-submersible giant drilling rig started drilling on February 7 in a water depth of 1,721 metres, in its first overseas deep-sea exploration well.The same drilling rig had previously drilled in waters claimed by both China ...
Pacific Crude-Refinery appetite wanes; Ruby slightly stronger SINGAPORE: The Asia-Pacific crude market came under pressure on Monday from waning refinery appetite after Taiwan's CPC failed to award an import tender.CPC had sought to buy two cargoes of sweet crude for May-arrival on the spot market, but did not award the tender, traders said. Last month, the company bought three cargoes of West African crude on the spot market.Instead, CPC would take delivery of a cargo each of Angolan Cabinda and Girassol under ...
Brent spread to widen to negative $16.98 in three months SINGAPORE: The spread between US oil first month and Brent oil first month may widen to negative $16.98 per barrel over the next three months, as the nearest support at negative $13.54 may not hold.Support is provided by the 50 percent Fibonacci retracement on the uptrend from the Oct. 14, 2011 low of negative $28.10 to the Jan. 15, 2015 high of $1.02.The uptrend consists of five waves respectively labeled a, b, c, d, e. ...

 



 
Index Closing Chg%
Arrow DJIA 18,288.63 0.86
Arrow Nasdaq 5,008.10 0.90
Arrow S&P 2,117.39 0.61
Arrow FTSE 6,940.64 0.09
Arrow DAX 11,410.36 0.08
Arrow CAC-40 4,917.32 0.69
Arrow Nikkei 18,826.88 0.15
Arrow H.Seng 24,887.44 0.15
Arrow Sensex 29,459.14 0.33







ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln