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Oil prices up on China industrial output data SINGAPORE: Oil prices rose in Asian trade Tuesday, buoyed by strong industrial production data from China, the world's top energy consuming nation, analysts said.US benchmark West Texas Intermediate for November delivery advanced 17 cents to $82.88 a barrel in late-morning trade and Brent crude for December added four cents to $84.44.Daniel Ang, investment analyst with Phillip Futures in Singapore, said investors were cheered after China said industrial production, which measures output at factories, workshops and mines, rose 8.0 percent year-on-year in September. That was a rebound from a more than five year low of 6.9 percent in August.He added that the figure overshadowed figures showing China's economy grew in the third quarter at its slowest pace since the depths of the global financial crisis."Industrial production is a good indication of crude oil demand from China," he told AFP, although he added that it remained to be seen whether this will ...

Middle East crude slumps as sellers depress market SINGAPORE: December differentials for DME Oman and Dubai slumped into discounts in the Middle East crude market on Monday despite continued buying by Chinaoil on the Platts window."Chinaoil didn't appear on the bid side, it only came out to lift the offers," a trader with a Western firm said."So the sellers offered it down."Shell and Gunvor will deliver an Upper Zakum cargo each to Chinaoil while Unipec sold an Oman cargo following Monday's trade.The market ...
Asia-Pacific crude weak; Malaysian supply eyed SINGAPORE: The Asia-Pacific crude market remained under pressure on Monday amid poor demand, while some traders awaited the results of a Malaysian tender to gauge supply.The overall market was over-supplied amid high inflows from other regions and low refining margins."Crude prices have come down, and that's making refining margins look a little bit better. But it doesn't mean the market is improving," one Singapore-based trader said. "The market is still over-supplied."The result of a tender ...
Brent holds on to gains above $86, helped by US consumer sentiment SINGAPORE: Brent crude edged higher on Monday, holding on to gains scored in the previous session that took it above $86 a barrel after robust US data buoyed global financial markets, with a cut in Saudi-Kuwait oil output providing further support. Abundant global oil supplies coupled with a gloomy economic outlook fromEurope to China had pushed Brent to its lowest since 2010 last week, consolidating a loss of more than 25 percent since June. However, ...
Oil prices extend gains in Asia SINGAPORE: Oil prices rose in Asia Monday, lifted by a surge in equities following last week's sharp gains on Wall Street, but analysts said prices remain weighed by weak demand in an oversupplied market.US benchmark West Texas Intermediate for delivery in November climbed 44 cents to $83.19 a barrel in afternoon trade, and Brent crude for December added four cents to $86.20.Both contracts ended marginally higher last week thanks to a minor dip-buying rally after ...
Iraq proposes to split crude supply into two grades -trade SINGAPORE: Iraq's State Oil Marketing Organization (SOMO) has proposed to split its crude supply into two grades and has requested feedback from buyers in Asia, trade sources said on Monday.The move was likely due to a rise in new production of heavier oil from fields such as West Qurna, they said.The second largest OPEC producer plans to offer two grades of crude - light and heavy - for exports from its southern terminals, the sources ...
US oil to drop to $81.70 SINGAPORE: US oil may retrace to $81.70 per barrel, as indicated by its wave pattern and a Fibonacci retracement analysis.A five-wave cycle from the Sept. 30 high of $94.90 has not completed. The gain from the Oct. 16 low of $79.78 was driven by the fourth wave, which failed to extend above a resistance at $84.81, the 38.2 percent Fibonacci retracement on the fall from the Oct. 1 high of $92.96 to $79.78.This wave will ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln