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Oil prices edge lower in Asian trade SINGAPORE: Oil prices edged lower in Asia on Monday as a rally late last week fizzled out, owing to lingering concerns about weak demand and a global supply glut, analysts said.US benchmark West Texas Intermediate (WTI) for delivery in February eased 37 cents to $48.32 in afternoon trade and Brent crude for March fell 37 cents to $49.80.Prices rebounded Friday after the International Energy Agency said there were signs "the tide will turn" in the battered market after a recent plunge to near six-year lows.But Phillip Futures analysts said in a market commentary: "Although it may seem like prices are reversing already, fundamentals have not changed."Oversupply and weak demand is still prevalent in the market and, thus, (we) would not expect prices to rally just yet."Phillip Futures expects range-bound trading to continue "until fundamentals change for the better".Oil prices have lost more than half their value since June, when they ...

Oil prices edge lower in Asian trade SINGAPORE: Oil prices edged lower in Asia Monday as a rally late last week fizzled out owing to lingering concerns about weak demand and a global supply glut, analysts said.US benchmark West Texas Intermediate (WTI) for delivery in February eased three cents to $48.66 in late-morning trade and Brent crude for March fell 41 cents to $49.76.Prices rebounded Friday after the International Energy Agency said there were signs "the tide will turn" in the battered ...
India oil imports from Iran jump sharply in 2014 NEW DELHI: India imported 42 percent more Iranian oil last year over 2013 levels as its refiners increased purchases to take advantage of an easing in sanctions targeting Tehran's nuclear programme.The jump came with an end-of-the-year boost as imports in December surged 84 percent from a year ago to 348,400 barrels per day (bpd), the highest since March.Iranian and U.S. officials are meeting in Geneva this week ahead of talks between Tehran and world powers ...
Brent crude oil holds above $48, few analysts see quick recovery SINGAPORE: Brent crude oil futures edged higher on Friday, holding above $48 a barrel as analysts said prices were well supported around current levels, although few expect a strong rebound anytime soon as global output continues to outweigh demand.Benchmark Brent crude futures were trading at $48.38 per barrel at 0802 GMT, up 11 cents since their last settlement. U.S. crude was trading at $46.50 a barrel, up 25 cents."Our forecast seems to point towards a ...
Oil prices rise as IEA says signs of market ‘tide will turn’ SINGAPORE: Brent crude oil futures rose above $49 a barrel on Friday as the IEA said the tide of recent price slumps may turn, although analysts said a strong rebound anytime soon was unlikely as global output continues to outweigh demand.Oil prices have dropped by more than half since last June as production around the world has soared while demand slows, and although the International Energy Agency (IEA) said that a reversal in trend was ...
Asia-Pacific Crude-Sokol premium weakens as oversupply persists SINGAPORE: Spot premiums for Russian Sokol crude weakened in the Asia-Pacific crude market on Friday, weighed by ample supply and low seasonal demand.India's ONGC sold 700,000 barrels of Sokol crude loading March 14-20 to BP in a tender at $3-3.20 a barrel above the Oman/Dubai average, traders said.Last month, ONGC sold Sokol at a premium of around $3.50 a barrel, according to Reuters data.Russia's Surgut offered two cargoes of ESPO crude loading Feb. 28-March 5 ...
Middle East Crude-Murban trades around parity despite OSP cut  SINGAPORE: March Murban crude differentials fell to parity from premiums in the previous month as supply continued to overwhelm the Middle East crude market, traders said on Friday.TonenGeneral and SK Energy bought one Murban each for March loading at about parity to OSP, down from premiums in the previous month, they said.This was despite ADNOC reducing the official selling price (OSP) for its flagship grade.March Banoco Arab Medium flipped into a small premium against OSP ...

 



 
IndexClosingChg%
ArrowDJIA 17,652.60 0.79
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ArrowDAX 10,649.58 2.05
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ArrowSensex 29,278.84 0.94






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln