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Mideast crude pushed into deep discounts by African, LATAM supply SINGAPORE: Crude cargoes from Africa and Latin America heading to Asia are butting up against Middle East supply, pushing differentials for October-loading barrels from Gulf producers into deep discounts.With margins persistently low, Asian refiners are also processing less crude, cutting demand as booming U.S. shale oil output is pushing excess oil from the Atlantic Basin and Latin America eastward."The arbitrage will remain open for Asia and then Middle East grades will suffer," a Singapore-based trader with a Western firm said."You will see (Abu Dhabi) grades trading below OSP minus $1.50," the trader said.Total SA sold a cargo of Abu Dhabi's Das crude on Wednesday to Glencore Plc at $1 a barrel below its official selling price (OSP) on the Platts window, traders said.Shell offered Abu Dhabi's Upper Zakum crude at 50 cents a barrel below its OSP, but failed to find a buyer.Spot Dubai barrels have also fallen below $100 ...

Asia Pacific crude weaker; Labuan premium falls SINGAPORE: The Asia-Pacific crude market continued to weaken on Wednesday as the premium for Malaysia's Labuan crude fell on low demand and large arbitrage inflows into the region.Still, some traders said the distillate-rich grade fetched a higher-than-expected premium in a market weighed down by poor refining margins.Malaysia's Petronas sold 300,000 barrels of Labuan crude loading Oct. 13-18 at $5.50-$5.80 a barrel above Dated Brent, traders said.The premium was down from around $6 a barrel for ...
Oil prices mixed in Asia SINGAPORE: Oil prices were mixed in Asia Wednesday as investors await the release of US Federal Reserve minutes from its July meeting, while keeping an eye on the latest stockpiles data.US benchmark West Texas Intermediate (WTI) for September delivery rose 81 cents to $95.29 on its last day of trading. It tumbled $1.93 in New York Tuesday as speculative traders sold off ahead of its expiration date. Brent crude for October eased 12 cents to ...
Japan July crude import volume down 2.7pc TOKYO: Japan's customs-cleared crude oil imports fell 2.7 percent in July from the same month a year earlier, the Ministry of Finance said on Wednesday. Japan, the world's fourth-biggest crude buyer, imported 3.32 million barrels per day (16.38 million kilolitres) of crude oil last month, the preliminary data showed. Japan's imports of liquefied natural gas totalled 7.84 million tonnes last month, up 5.7 percent from a year earlier. Imports of thermal coal for power generation ...
Brent holds near 14-month low on plentiful supply SINGAPORE: Brent crude futures steadied near 14-month lows above $101 a barrel on Wednesday, with ample supplies putting prices at risk of further losses as worries over geopolitical tensions ease. The oil benchmark has fallen more than 12 percent from this year's peak of $115.71 reached in June due to the turmoil in Iraq. While the conflict there continues, there has been no significant disruption to oil supply from the No. 2 OPEC producer, giving ...
Oil prices rebound in Asia SINGAPORE: Oil prices rebounded in Asia Tuesday on bargain-hunting after tumbling on easing concerns about conflicts in Ukraine and Iraq, analysts said. US benchmark West Texas Intermediate (WTI) for September delivery rose 38 cents to $96.79, while Brent crude for October was up 23 cents to $101.83 in afternoon trade.WTI fell 94 cents in New York trade Monday, while Brent sank $1.93 in London to hit its lowest level since June 2013. "We are seeing ...
Oil prices rebound in Asia SINGAPORE: Oil prices rebounded in Asia Tuesday on bargain-hunting after tumbling on easing concerns about conflicts in Ukraine and Iraq, analysts said. US benchmark West Texas Intermediate (WTI) for September delivery rose 38 cents to $96.79 while Brent crude for October was up 22 cents to $101.82 in late-morning trade.WTI fell 94 cents in New York trade Monday, while Brent sank $1.93 in London to hit its lowest level since June 2013. "We are seeing ...

 



 
Index Closing Chg%
Arrow DJIA 17,122.01 0.09
Arrow Nasdaq 4,569.62 0.02
Arrow S&P 2,000.12 0.01
Arrow FTSE 6,830.66 0.12
Arrow DAX 9,569.71 0.19
Arrow CAC-40 4,395.26 0.04
Arrow Nikkei 15,534.82 0.09
Arrow H.Seng 24,918.75 0.62
Arrow Sensex 26,560.15 0.44





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 25, 2014
Reserves $13.925 bln