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Brent oil's bearish target at $82.87 resumed SINGAPORE: A bullish target range of $90.51-$92.22 per barrel has been aborted and a bearish target at $82.87 resumed for Brent oil, as it has failed to break a resistance at $86.67 again.The resistance is provided by the 76.4 percent Fibonacci projection level of a downward wave C that developed from the June 19 high of $115.71. The break above this barrier turned out to be false.It is clearer now that the rebound from the Oct. 16 low of $82.60 has been shaped into a rising wedge, which is a typical bearish continuation pattern. The odds could be low against a fall towards the 86.4 percent level at $82.87.A climb above $86.67 may signal an extension of the rebound towards the upper trendline of the wedge around $88.60.Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own.No information in this analysis should ...

Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Friday, pressured by a stronger dollar as dealers speculated over whether the will Federal Reserve lift interest rates sooner than later, analysts said.US benchmark West Texas Intermediate for December delivery fell 16 cents to $80.96 while Brent crude for December was down 31 cents at $85.93 in mid-morning trade. Singapore's United Overseas Bank said crude prices faced downward pressure "as expectations that US interest rates may rise sooner than ...
Brent falls below $86, heads for worst month since 2012 SINGAPORE: Brent crude futures fell below $86 a barrel on Friday as a firmer dollar and a well supplied oil market combined to put the benchmark on course to end October with its steepest monthly decline since 2012.Unless the Organization of the Petroleum Exporting Countries moves to cut oil output at its meeting next month, traders say oil prices, which have dropped by a quarter since June, are likely to extend their rout."We are still ...
Brent drops below $87 as Fed optimism lifts dollar SINGAPORE: Brent oil futures fell below $87 a barrel on Thursday, pressured by a stronger U.S. dollar after the Federal Reserve painted a brighter outlook for the U.S. economy.The U.S. central bank on Wednesday ended its monthly bond purchase programme and showed confidence in the prospects for the U.S. economy. While that boosts the outlook for demand from the world's top oil user, the dollar is gaining as expectations rise that the Fed could lift ...
Oil prices down in Asian trade SINGAPORE: Oil prices edged lower in Asia Thursday but losses were limited by a surprisingly upbeat assessment of the US economy by the Federal Reserve, analysts said. US benchmark West Texas Intermediate (WTI) for December delivery eased 30 cents to $81.90 while Brent crude for December fell 23 cents to $86.89 in afternoon trade."Crude oil found some support following a more bullish-than-expected outlook of the US economy by the Federal Reserve," Desmond Chua, market analyst ...
Crude falls below $82/bbl on strong dollar TOKYO: US crude futures edged below $82 a barrel on Thursday in early Asian trade, pressured by a strong dollar and a supply glut, following overnight gains on the back of a less-than-expected rise in US oil stockpiles.FUNDAMENTALSNYMEX crude for December delivery was down 32 cents at $81.88 a barrel by 0004 GMT, after settling up 78 cents at $82.20 on Wednesday.The market has regained some ground after hitting a more than two-year low of ...
Brent oil targets $90.51-$92.22 range SINGAPORE: A bullish target range of $90.51-$92.22 per barrel has been established for Brent oil as it has cleared a resistance at $86.67.The resistance was provided by the 76.4 percent Fibonacci projection level of a downward wave C that developed from the June 19 high of $115.71. Theoretically, the way has been opened towards the 61.8 percent level of $92.22.Based on the range of $84.12-$87.34, the Oct. 23 low and the Oct. 17 high, a ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln