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Asia-Pacific crude: Vietnamese tenders eyed SINGAPORE: The Asia-Pacific crude market held steady on Tuesday as traders awaited the results of Vietnamese tenders to assess demand and prices for November-loading cargoes.PV Oil is due to award several tenders in the next couple of days, including Su Tu Den, Rang Dong and Chim Sao. It remained to be seen whether premiums had bottomed out or could fall further under the weight of excess supply in the Atlantic Basin as the arbitrage to Asia remained wide open."It should improve because of winter but there are too many fishes in the ocean," a crude oil seller said, referring to ample supply."Customers are saying our tanks are full and we will only look if there's cheap oil."Brent-Dubai Exchange of Futures for Swaps (EFS), or Brent's premium to Dubai swaps, edged up 2 cents at $1.18 a barrel.Four North West Shelf (NWS) condensate cargoes will load in November. BP, BHP, Mitsui ...

Sinopec to start trial operation of first LNG terminal by end-Oct BEIJING: Top Asian refiner Sinopec Corp will start trial operation of its first liquefied natural gas (LNG) terminal by the end of October, a company representative said on Tuesday. The 3.0 million tonne-per-year (tpy) terminal in Qingdao city of eastern Shandong province is also expected to receive its first LNG cargo by the end of next month, the representative said without specifying where the cargo will come from. Sinopec signed a deal in 2009 to ...
US oil may rebound to $94.47 SINGAPORE: US oil may break a resistance at $93.20 per barrel and rebound more to $94.47, as it seems to have stabilised around a support at $91.14.The support is provided by the 161.8 percent Fibonacci projection level of a downward wave C that started at the July 22 high of $105.25. A small double-bottom is forming, but will only become reliable when oil breaks the resistance at $93.20, the 138.2 percent level.The possible double-bottom, along ...
Brent steady below $98, capped by weak demand SINGAPORE: Brent crude was little changed just below $98 a barrel on Tuesday, holding gains after recovering from its lowest price in more than two years but capped by a soft global economic outlook. Data reflecting lacklustre manufacturing output performance in the world's two largest economies, the United States and China, stoked demand fears and kept oil prices in check. November Brent was trading up 3 cents to $97.91 a barrel by 0253 GMT. The ...
Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asia Tuesday following weak economic data from top energy consumers the United States and China, and as dealers await a key US Federal Reserve meeting. US benchmark West Texas Intermediate for October delivery fell 15 cents to $92.77, while Brent crude for November rose 14 cents to $98.02 in mid-morning trade. Brent's October contract expired Monday at $96.65, its lowest level since June 2012.Singapore's United Overseas Bank said "investors ...
Middle East crude excess supply, weak China outlook weigh on prices  SINGAPORE: DME Oman's premium to Dubai edged down in the Middle East crude market on Monday as excess supply and weak China economic outlook weighed on prices.Traders are awaiting Qatari al-Shaheen and condensate to commence trading in order to assess Asia's demand for November-loading cargoes.Sellers are pinning their hopes on recovering refining margins and a cold winter to absorb surplus oil although spot differentials for al-Shaheen were likely to remain in discounts amid the supply ...
Asia Pacific crude growing supply weighs SINGAPORE: The Asia-Pacific crude market stayed under supply pressure on Monday as growing regional production faced competition from excess West African barrels.Supply in the region is growing as Australia and Malaysia are marketing new grades, Balnaves and Kimanis, while Vietnam has excess Su Tu Den to sell in the November spot market.A narrow spread between Brent and Dubai, falling freight rates and spot differentials for West African cargoes have also kept the arbitrage window for ...


Index Closing Chg%
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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
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WeeklySeptember 18, 2014
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