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Asia Fuel Oil-Cracks, spreads remain tight as bunker prices climb SINGAPORE: Asia's fuel oil crack for benchmark 180-centistroke rebounded to a discount of $6.79 a barrel on Wednesday, gaining as bunker prices firmed on the possibility of reduced arbitrage volumes from the West next month even as the market remained quiet, traders said.The spread for the benchmark also remained tight, holding around a four-month high, at a discount of $2.75 - a further indication of possible lower arbitrage volumes, traders said."We don't see much arbitrage cargo - somewhere in the low 3s (million tonnes) in December," said one Singapore trader.Other traders have estimated volumes could hit 4 million tonnes, similar to November's level."Bunker prices have picked up and fundamentals kicked in," the trader said.Bunker prices would definitely continue to rise until the end of November and possibly carry on climbing next month, the trader said.In Singapore, the bunker price for 180-cst in the fourth quarter is forecast to average $239 ...

Oil eases after big rally on increased Mideast risk SEOUL: Crude oil futures eased on Wednesday after prices hit two-week highs in the previous session as tension mounted in the Middle East following Turkey's downing of a Russian warplane.Brent shed 9 cents at $46.03 a barrel as of 0756 GMT, reversing brief gains earlier in the session. The benchmark had settled up $1.29 at $46.12 on Tuesday, after hitting its highest since Nov. 11 at $46.50.U.S. West Texas Intermediate (WTI) futures lost 3 cents ...
Asia-Pacific Crude-Steady; Brunei sells Jan Kimanis SINGAPORE: The Asia-Pacific crude market held steady, supported by high freight rates while lighter grades were boosted by strong naphtha cracks.Spot differentials for Malaysia's Kimanis grade held steady, after Petroleum Brunei sold a January cargo of the grade to Shell at $4.10-$4.20 a barrel above dated Brent, traders said.The price was in line with a deal done earlier this month by Petronas, but higher than last month, according to Thomson Reuters data. The deal could ...
Middle East Crude-ESPO edges up on China demand SINGAPORE: DME Oman fell further into discount in the Middle East crude market on Wednesday, while Russian ESPO crude edged up on strong China demand.Russia's Rosneft sold two cargoes of ESPO loading on Jan. 10-15 and Jan. 21-26 to ChemChina in a tender at $2.80-$2.90 a barrel above Dubai quotes, traders said.Spot differentials for the Russian grade were lower than last month when premiums reached a 16-month high, but higher than deals done earlier this ...
Oil prices turn higher as diplomats seek to ease Middle East tensions SINGAPORE: Oil prices turned higher in Asia Wednesday as diplomats tried to ease geopolitical tensions sparked by Turkey's shooting down of a Russian fighter jet on the Syrian border.But the global crude supply glut capped gains ahead of a US Department of Energy report expected to show another build in commercial crude stockpiles, indicating slower demand in the world's top oil consuming nation.Prices had surged Tuesday following the plane shooting which analysts warned could further ...
Oil prices down on diplomatic efforts to ease Middle East tensions SINGAPORE: Oil prices fell in Asia Wednesday as diplomats tried to ease geopolitical tensions sparked by Turkey's shooting down of a Russian fighter jet on the Syrian border.Prices had surged Tuesday following the incident which analysts warned could further heighten tensions among key powers involved in the Syrian conflict and affect crude supplies from the oil-producing Middle East.The rally was cut short amid a flurry of diplomatic effort to appease a furious Russian President Vladimir ...
Asia-Pacific Crude-Strong refining margins support SINGAPORE: Robust refinery demand continued to support the Asia-Pacific crude market while high freight rates curbed supply of crude from other regions.Regional light grades have benefited from strong naphtha cracks this month with complex refining margins in the Singapore hub having hovered above $9 a barrel in the past week, up from an average of below $7 a barrel last month.The spike in refining margins was in part due to higher demand for oil products ...


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln