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Oil prices slightly up in Asia but gains limited SINGAPORE: Oil prices were higher in Asia Friday, but gains were limited in a market burdened by a persistent oversupply.A continued rise in US commercial crude inventories further confirmed predictions the glut will last well into next year, with Iran also expected ramp up production when Western sanctions are lifted under a deal with major powers to curb its nuclear programme.At around 0150 GMT, US benchmark West Texas Intermediate (WTI) for delivery in December was trading three cents higher at $40.57 a barrel on its last trading day, while Brent crude for January was up 11 cents to $44.29.WTI briefly fell below $40 in US trade Thursday before recovering to close above that level."WTI once again came under pressure, dipping below key $40 before recovering slightly, as US crude stockpiles continued to increase, keeping inventories over 100 million barrels above the five-year average," said Bernard Aw, market strategist at IG ...

Oil traders prepare for next big price drop in March 2016 SINGAPORE: Oil traders are preparing for another downward turn in prices by March 2016, market data suggests, as what is expected to be an unusually warm winter dents demand just as Iran's resurgent crude exports hit global markets after sanctions are ended.Crude futures have already lost around 60 percent of their value since mid-2014 as supply exceeds demand by roughly 0.7 million to 2.5 million barrels per day to create a glut that analysts say ...
Middle East Crude-Lighter grades supported SINGAPORE: Robust refinery demand for lighter grades supported the Middle East crude market, while DME Oman continued to recover, traders said on Thursday.India's Reliance will deliver one Upper Zakum cargo to Shell after selling two January Dubai partials to the oil major at around $39.70 a barrel, a trader said. The refiner also sold one January Dubai partial to Trafigura.Demand for condensate was supported by strong naphtha cracks. Qatar's Tasweeq may have sold at least ...
Asia-Pacific Crude-Refinery demand supports Malaysian grades SINGAPORE: The Asia-Pacific crude market was supported by strong refinery demand and high freight rates, traders said on Thursday.Malaysia's Petronas sold 300,000 barrels of January-loading Labuan crude to an unknown buyer at $4.50-$4.70 a barrel above dated Brent, traders said, up as much at $1 a barrel from the previous month.The value of Malaysia's Kimanis also rose by the same margin, after the state-owned company also sold two January cargoes to unknown buyers at slightly ...
Oil prices up on France IS strikes, US stockpiles data SINGAPORE: Oil prices rose in Asian trade Thursday as Europe struck back against the Islamic State (IS) group after the Paris attacks and US crude stockpiles registered a mild rise, analysts said.The Federal Reserve's broadly upbeat summary of the US economy also lifted confidence, with most markets in Asia advancing after a rally on Wall Street."Strikes against the Islamic State could worsen the geopolitical tensions in the oil-producing Middle East region and this supports crude ...
Middle East Crude-Dubai, Oman rebound; Platts adds new grades  SINGAPORE: Cash Dubai and DME Oman in the Middle East crude market recovered on Wednesday from lows seen earlier this week, supported by a rebound in fuel oil margins.Cash Dubai's discount to swaps narrowed by about 20 cents from Monday while the discount for DME tightened by 30 cents from Tuesday.Weakness in the benchmarks had depressed medium grades. Upper Zakum traded at a discount of about 50 cents to its official selling price (OSP), 10 ...
Azeri oil exports down 0.4pc in Jan-Oct: customs BAKU: Azerbaijan's oil exports edged down 0.4 percent in January through October compared with a year earlier, driven by a decline in oil production, a source at the State Customs Committee said on Wednesday.Azerbaijan exported 28.1 million tonnes of oil in the first 10 months of this year.Exports of oil via Russia through the Baku-Novorossiisk pipeline amounted to 1.1 million tonnes in the period, up from 848,519 tonnes a year earlier, the source said.Exports through ...


Index Closing Chg%
Arrow DJIA 17,813.39 0.01
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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln