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US oil may break resistance at $52.12 SINGAPORE: US oil may break a resistance at $52.12 per barrel and approach a higher resistance at $53.38, as indicated by its wave pattern and a wedge.The rebound from the Jan. 29 low of $43.58 has adopted a three-wave mode, with the third wave labelled C consisting of five small waves. The final small wave labelled 5 is unfolding towards $53.38, the 50 percent Fibonacci projection level of the wave C.From February 3, oil has been consolidating within a wedge, the upper trend line of which points to $53.38 as well.An immediate resistance is at $52.12, the 38.2 percent level, a break above which will confirm the target at $53.38. Support is at $49.61, the 14.6 percent level, a break below which could lead to a further loss to $48.05.Copyright Reuters, 2015 ...

Bangladesh naphtha draws highest bid since August DHAKA: Bangladesh Petroleum Corp (BPC) will sell 170,000 barrels of naphtha to Unipec at a premium of $0.39 per barrel to Singapore quotes, the highest since August and sharply up from the previous sale.Unipec offered the best price among six companies that competed for the tender, a BPC official said on Monday, as the tender opened on Feb. 18 with validity up to Feb. 26.This will be the highest selling price since August when state-owned ...
Oil prices rebound in Asian trade SINGAPORE: Oil rebounded in Asia Monday as speculators hunted for bargains following a sharp decline last week, but analysts said prices remain weighed by an oversupply.US benchmark West Texas Intermediate (WTI) for April delivery was up 15 cents to $50.96 while Brent crude for April gained 21 cents to $60.43 in afternoon trade.WTI fell 4.66 percent and Brent tumbled 2.1 percent week-on-week last Friday, offering traders a buying opportunity."Prices fell off quite a bit last ...
Oil prices recover slightly in Asia HONG KONG: Oil prices climbed Friday, recovering slightly from a sell-off caused by news that US stockpiles had reached record highs, adding to worries about a global supply glut.US benchmark West Texas Intermediate for April, a new contract, gained 35 cents to $52.18 while Brent added 33 cents to $60.54.Traders sold off the black gold Wednesday on forecasts of a huge jump in inventories. And they extended the losses Thursday after the Energy Information Administration ...
Japan's LNG, thermal coal imports hit records in Jan TOKYO: Japan's imports of liquefied natural gas and thermal coal rose to records in January on an increased need for fuel to fire power plants due to the extended shutdowns of nuclear reactors following the Fukushima crisis, customs-cleared Ministry of Finance data showed on Thursday.The monthly records for LNG and thermal coal imports follow record annual highs posted last year for the two fuels. All 48 commercial nuclear reactors in Japan have been shut since ...
Oil prices retreat ahead of stockpile report HONG KONG: Oil prices fell Thursday ahead of the release of a closely watched report that is forecast to show a surge in US stockpiles to 33-year high, adding to a global supply glut.US benchmark West Texas Intermediate fell $1.46 to $50.68 while Brent eased 98 cents to $69.55.The weekly report by the Energy Information Administration (EIA) is expected to show supplies increased by three million barrels to 420.9 million in the week to through ...
Middle East Crude: Trade slows before Lunar New Year SINGAPORE: Trade in the Middle East crude market slowed on Wednesday as buyers and sellers wound down for the Lunar New Year holidays.Most of the April-loading Middle East spot grades have traded at improved premiums from the previous month as buyers locked in purchases ahead of the long holiday. Asia's demand has also been robust, supported by firm refining margins, despite peak maintenance season.Trade is expected to resume next week when most markets re-open after ...


Index Closing Chg%
Arrow DJIA 18,132.70 0.45
Arrow Nasdaq 4,963.53 0.49
Arrow S&P 2,104.50 0.30
Arrow FTSE 6,946.66 0.04
Arrow DAX 11,401.66 0.66
Arrow CAC-40 4,951.48 0.83
Arrow Nikkei 18,797.94 0.06
Arrow H.Seng 24,823.29 0.32
Arrow Sensex 29,220.12 1.65

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln