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Brent oil may fall towards $49.78 SINGAPORE: Brent oil may break a support at $51.55 per barrel and fall towards the next support at $49.78, as it failed to break a resistance at $52.98.The two supports and the resistance are identified respectively as the 38.2 percent, the 23.6 percent and the 50 percent Fibonacci projection levels of an upward wave C, the third wave of a three-wave cycle from the Aug. 24 low of $42.23.This wave has been unfolding too fast to keep its momentum and could be reversed further. A drop to $51.26 could confirm both a break below $51.55 and the target at $49.78.A break above $52.98 will lead to a further gain to $54.40, the 61.8 percent level.Copyright Reuters, 2015 ...

Oil prices bounce back in Asian trade SINGAPORE: Oil prices bounced back in Asia Thursday as investors weighed a rise in US crude inventories and production against a forecast by OPEC's chief of rising demand.US benchmark West Texas Intermediate for November delivery climbed nine cents to $47.90 and Brent crude for November gained eight cents to $51.41 in afternoon trade.Prices tumbled Wednesday after a US Department of Energy report showed commercial crude stockpiles rose more than expected in the week ending October ...
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. ...
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 ...


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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 08, 2015
Reserves $20.05 bln