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Brent oil to climb to $52.98 SINGAPORE: Brent oil is expected to climb to $52.98 per barrel, as it has cleared a resistance at $51.55.The resistance is identified as the 38.2 percent Fibonacci projection level of an upward wave C, the third wave of a three-wave cycle from the Aug. 24 low of $42.23.The next resistance will be at $52.98, the 50 percent projection level, a break above which could lead to a gain to the 61.8 percent level at $54.40. A correction from the current level may be limited to $51.55, now a support.Copyright Reuters, 2015 ...

Oil prices sustain rally SINGAPORE: Buoyant oil prices sustained a rally in Asia Wednesday driven by hopes the crude supply glut would ease and expectations the US central bank would hold off from raising interest rates.A softening of the US currency also helped bolster prices as the dollar-priced commodity becomes cheaper for holders of weaker units, spurring demand, analysts said.US benchmark West Texas Intermediate (WTI) for November delivery rose 55 cents to $49.08 and Brent crude for November advanced ...
Exxon sells 2016 Upper Zakum crude at higher premium from yr ago SINGAPORE: ExxonMobil has sold 2016 supplies of Upper Zakum crude to at least one buyer via a tender at a slightly higher premium than a year ago, trade sources said on Monday. The producer has sold a 500,000-barrel cargo for each month next year to a Japanese trading company at 15-20 cents a barrel above its official selling price, they said. Last year, Exxon sold annual supplies of the grade at a premium of about ...
Oil prices retreat in Asian trade SINGAPORE: Oil prices retreated in Asia Wednesday as traders focus on US crude stockpile report, a day after growing concerns over China's economy sparked a massive sell-off in shares of commodity firms.As Asian stocks recovered from Tuesday's rout, oil prices remain under pressure because demand growth continues to fall behind crude supply, analysts said.US benchmark West Texas Intermediate (WTI) for November delivery fell 44 cents to $44.79 and Brent crude dropped 36 cents to $47.87 ...
Oil prices fall on slowing global economic growth outlook SINGAPORE: Oil prices dropped on Monday despite a fall in U.S. drilling activity for the fourth straight week, with analysts pointing to a poor economic growth outlook as the main reason for low crude prices.China's August industrial profits dropped 8.8 percent from the same month last year, and January to August industry profits were down 1.9 percent."The growth problem endures. Asia isn't about to bounce," said Frederic Neumann, co-head of Asia Economics Research at HSBC ...
Brent oil targets $59.96 in three months SINGAPORE: Brent oil may break a resistance at $53.20 per barrel, and rise more towards the next resistance at $59.96 over the next quarter, following the completion of a five-wave cycle.The cycle started at the Aug. 28, 2013 high of $117.34 and ended at the Aug. 24, 2015 low of $42.23. A Fibonacci retracement analysis on the cycle reveals a target at $70.92, the 38.2 percent level, which is close to the peak of the ...
Oil prices mixed in Asia after Fed holds interest rates SINGAPORE: Oil prices were mixed in cautious Asian trade Friday after the Federal Reserve kept its benchmark interest rate at zero but warned about weaknesses in the global economy.News that the US central bank would keep borrowing costs at zero was broadly welcomed across Asia, with most stock markets up, as it eased concerns about a feared flight of capital from the region's struggling economies.It also weakened the greenback, making dollar-priced oil less expensive for ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 05, 2015
Reserves $18.349 bln