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US oil may rebound to $94.47 SINGAPORE: US oil may break a resistance at $93.20 per barrel and rebound more to $94.47, as it seems to have stabilised around a support at $91.14.The support is provided by the 161.8 percent Fibonacci projection level of a downward wave C that started at the July 22 high of $105.25. A small double-bottom is forming, but will only become reliable when oil breaks the resistance at $93.20, the 138.2 percent level.The possible double-bottom, along with the bullish divergence on the hourly MACD, suggests a completion of the wave C or at least, an ongoing decent rebound.A break below $91.14 will confirm the continuation of the wave C towards $87.81, the 200 percent level.The views expressed are his own.No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal ...

Brent steady below $98, capped by weak demand SINGAPORE: Brent crude was little changed just below $98 a barrel on Tuesday, holding gains after recovering from its lowest price in more than two years but capped by a soft global economic outlook. Data reflecting lacklustre manufacturing output performance in the world's two largest economies, the United States and China, stoked demand fears and kept oil prices in check. November Brent was trading up 3 cents to $97.91 a barrel by 0253 GMT. The ...
Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asia Tuesday following weak economic data from top energy consumers the United States and China, and as dealers await a key US Federal Reserve meeting. US benchmark West Texas Intermediate for October delivery fell 15 cents to $92.77, while Brent crude for November rose 14 cents to $98.02 in mid-morning trade. Brent's October contract expired Monday at $96.65, its lowest level since June 2012.Singapore's United Overseas Bank said "investors ...
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 ...
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 ...

 



 
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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