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Oil dips in Asia after mixed US report SINGAPORE: Oil prices fell in Asia Thursday followed a mixed US petroleum report that showed an increase in reserves but a dip in production.US benchmark West Texas Intermediate for October delivery fell 45 cents to $45.80 while Brent crude for October slipped 38 cents to $50.12 in late-morning trade.Prices turned sharply lower Tuesday and have been edging down since after weak manufacturing data from China and the United States clouded the outlook for demand growth in the two biggest energy consumers. They had surged more than 25 percent over the three days before that.On Wednesday the US Department of Energy's petroleum report for the week to August 28 showed commercial crude stocks rose 4.7 million barrels to 455.4 million barrels, sitting near eight-decade highs. The increase was much bigger than the 900,000 barrels on average expected surveyed by experts Bloomberg News.Crude output, however, fell 119,000 barrels to 9.22 million a ...

Oil prices extend losses in Asian trade SINGAPORE: Oil prices extended losses in Asia Wednesday as dealers digested weak US and Chinese manufacturing data, while expectations of a bearish US stockpiles report also weighed, analysts said. US benchmark West Texas Intermediate (WTI) for October delivery fell $1.14 to $44.27 while Brent crude for October sank 91 cents to $48.65 in late-morning trade. WTI sank $3.79 and Brent lost $4.59 on Tuesday after China and the United States, the world's top two crude ...
Oil prices tumble in Asia on Chinese data SINGAPORE: Oil prices tumbled in Asia Tuesday, surrendering some of their big gains after fresh data showed manufacturing activity in top energy consumer China contracted in August, analysts said.The contraction in the Purchasing Managers' Index (PMI) for China's factory sector added to concerns about the health of the world's second biggest economy.US benchmark West Texas Intermediate (WTI) for October fell $1.50 to $47.70 and Brent crude for October dropped $1.46 to $52.69 a barrel in ...
Middle East Crude: Dubai hits record volume; DME Oman slumps SINGAPORE: The number of cargoes traded during a pricing process for Middle East crude exports to Asia hit an all-time high in August, traders said on Monday.Chinaoil, the trading arm of PetroChina Co, snapped up a record 36 million barrels over the month,Chinaoil bought 72 cargoes this month during the Platts Dubai Market on Close (MoC) process, of which nearly 70 percent were sold by Unipec, traders said on Monday, surpassing a prior record purchase ...
Middle East Crude: Chinaoil, Mercuria bag 6 more Oman cargoes SINGAPORE: Cash trade in the Middle East crude market accelerated on Friday as sellers sold more cargoes to Chinaoil and Mercuria before the month ends.Six cargoes were sold during the Platts Market on Close (MoC) process, bringing the total for the month to a record 75 cargoes.Chinaoil took five Oman cargoes - three from Unipec and one each from Shell and Vitol, traders said. Shell also sold an Oman cargo to Mercuria, they said.Separately, the ...
Oil prices up in Asian trade SINGAPORE: Oil rose in Asia Thursday as dealers digested a mixed US energy report showing a dip in crude inventories, but barely any decline in production despite sinking prices.US benchmark West Texas Intermediate for October delivery gained 86 cents to $39.46 while Brent crude for October rose $1.07 to $44.21 in late-morning trade.The US Department of Energy said Wednesday US crude supplies unexpectedly fell by 5.5 million barrels for the week ending August 21, indicating ...
Oil rebounds after sharp losses, but China worries weigh SINGAPORE: Crude oil markets recovered more than a percent on Tuesday after a sharp drop in the prior session, although prices held near 6-1/2-year lows as continued weakness in Chinese equities triggered fears of an economic tailspin in the region.While global markets showed signs of a respite from the recent blood-letting, Chinese shares lost another 5 percent with investors fearing a hard landing of the world's second-biggest economy and top commodity consumer."The recent turmoil has ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln