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Oil prices down in Asian trade SINGAPORE: Oil prices edged lower in Asia Friday under pressure from a supply glut and a strengthening US dollar, analysts said.US benchmark West Texas Intermediate for October delivery fell 20 cents to $92.87 while Brent crude for November eased 15 cents to $97.55 in mid-morning trade. Singapore's United Overseas Bank said a "stronger US dollar and higher US crude commercial inventories weighed on prices". The weekly US crude stockpiles report released Wednesday showed a surge of 3.7 million barrels instead of the 1.2 million barrel decline expected by the market.Oil prices also took a hit due to a strong US dollar.The greenback bought 109.20 yen in Asian trade Friday, compared with 108.68 yen in New York Thursday, supported by the US Federal Reserve's decision to stick to its timetable and only raise short-term interest rates next year.A stronger US dollar adds downward pressure on oil, which is traded in the ...

Brent oil to revisit low of $96.21 SINGAPORE: Brent oil is expected to revisit its Sept. 15 low of $96.21 per barrel, as it failed to break a resistance at $99.05.The resistance is provided by the 14.6 percent Fibonacci retracement on the downtrend from the June 23 high of $115.66 to $96.21. Oil's failure to overcome this barrier signals the downtrend remains steady within a small falling channel and could be extending towards the lower channel line.A rise to the Sept. 17 ...
Japan Aug crude imports fall, thermal coal imports at record high TOKYO: The volume of Japan's customs-cleared crude oil imports fell more than 11 percent in August from the same month a year earlier, while thermal coal imports hit a record high, government data showed on Thursday.Japan, the world's fourth-biggest crude buyer, imported 3.26 million barrels per day of crude oil last month (16.05 million kilolitres), down 11.5 percent, marking the steepest decline since May, preliminary data from the Ministry of Finance showed.Oil imports fell for ...
Brent falls towards $98 on strong dollar, US crude stocks spike SINGAPORE: Brent crude dropped towards $98 per barrel on Thursday, pressured by a stronger dollar on fears about a looming US interest rate increase and a steep spike in US crude stocks. Poor demand and abundant supplies have pushed down the oil benchmark toa 26-month low earlier this week, and have kept it below $100 for more than a week. Brent crude for November delivery was down 50 cents lower at $98.37 a barrel by ...
India's BPCL cancels 1st offers of Euro III diesel cargoes SINGAPORE: India's Bharat Petroleum Corp Ltd (BPCL) has cancelled offers to sell its Euro III diesel cargoes for the first time in the export markets, traders familiar with the matter said on Thursday. The reason behind the cancellation was unclear but there was talk that demand for diesel in general was poor in Asia. Last week, BPCL had offered three 350 ppm diesel grade cargoes totalling 105,000 tonnes for October loading from Mumbai and Kochi. ...
Oil prices down on US stockpiles surge, OPEC reports SINGAPORE: Oil prices fell in Asia Thursday following an unexpected surge in US stockpiles and reports that the OPEC oil cartel is unlikely to slash production when it meets in November.US benchmark West Texas Intermediate for October delivery dipped 55 cents to $93.87 while Brent crude for November eased 51 cents to $98.46 in mid-morning trade.Prices were under pressure "after the US Department of Energy reported an unexpected increase of US crude inventories by 3.7 ...
Middle East crude Tasweeq sells al-Shaheen at new low SINGAPORE: Spot differentials for Qatari al-Shaheen fell to a fresh low on Tuesday in the Middle East crude market after Tasweeq sold five cargoes at wider discounts than the previous month.The cargoes were sold at discounts between $2.20 and $2.70 a barrel to Dubai quotes, traders said, down from $1.50-$2.30 a barrel in the previous month.TonenGeneral and ExxonMobil bought two cargoes each while SK Energy took one, they said.Upper Zakum's discount could also widen after ...

 



 
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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 18, 2014
Reserves $13.525 bln