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Middle East crude steady; Al-Shaheen tender results eyed SINGAPORE: The Middle East crude market held steady on Thursday as traders looked ahead to results of the Qatari al-Shaheen tender before commencing January trade.Four cargoes of the heavy sour grade have been sold prior to the tender at $1-$1.50 a barrel below Dubai quotes, wider discounts than last month, traders said.January spot differentials for medium and heavy grades may be weaker than in the last month without the support of robust demand from Chinaoil, they said.The trading arm of PetroChina bought a record 47 cargoes on the trade window last month, tightening spot supply and pushing up differentials for December-loading Middle East crude to multi-month highs.TENDERSState-run Japan Oil, Gas and Metals National Corp (JOGMEC) bought about 1.26 million barrels (200,000 kilolitres) of Abu Dhabi Das crude from Itochu Corp for the government's Strategic Petroleum Reserves, two industry sources said.JOGMEC had been seeking 1.26 million barrels of Middle Eastern light ...

Brent falls below $80; OPEC expects lower demand in 2015 SINGAPORE: Brent crude fell below $80 a barrel on Thursday, near its lowest level since 2010, after OPEC said demand for its oil would fall next year, while Saudi Arabia remained silent about a possible cut in production. Global demand for oil from OPEC will drop to 29.20 million barrels per day (bpd) next year, almost 1 million bpd less than it currently produces, the cartel said in its monthly report.Brent crude for December delivery, ...
Oil prices extend losses in Asia SINGAPORE: Oil prices fell further in Asia Thursday on a stronger greenback and expectations that the OPEC cartel is unlikely to cut production levels to counter a global supply glut, analysts said. US benchmark West Texas Intermediate (WTI) for December delivery fell 15 cents to $77.03 while Brent crude was down 37 cents at $80.01 in late-morning trade. WTI fell 76 cents in New York Wednesday to close at a three-year low, while Brent dived ...
Oil prices down in Asian trade SINGAPORE: Oil prices fell in subdued Asian trade Wednesday following sustained speculation about the dim prospects for an OPEC oil production cut in the face of abundant global supplies. US benchmark West Texas Intermediate for December delivery fell 46 cents to $77.48 while Brent crude for December was down 39 cents to $81.28 in late-morning trade. "Oil prices continue to tumble on concerns over modest demand and no signs of clipping supply at OPEC," said ...
Japan LNG spot price rises to $15.30/mmBtu in Oct TOKYO: Liquefied natural gas (LNG) spot prices for Japanese buyers rose for a second straight month in October, the government said on Wednesday, as seasonal demand climbed with utilities stockpiling for the approach of winter in the Northern hemisphere.The gains are likely to prove shortlived as Asian buyers are facing the prospect of lower import costs for the first winter since the Fukushima nuclear crisis in 2011, with rising supplies helping to ease any shortages.Spot ...
Brent drops towards $81 as oil glut worries counter disruption risks SINGAPORE: Brent crude fell towards $81 a barrel on Wednesday, holding just above a four-year low as concerns over a mounting oil glut outweighed geopolitical and supply disruption risks in Ukraine and Libya. With oil prices having fallen 30 percent from a mid-June peak, whispering among OPEC delegates ahead of its Nov. 27 meeting is starting to suggest it could cut production by around 500,000 barrels a day (bpd), bringing its daily output closer to ...
Asia-Pacific Crude unsold supply weighs, focus shifts to January SINGAPORE: The Asia-Pacific crude market stayed weak on Tuesday as unsold supply weighed while traders shift their focus to January trade.Four North West Shelf (NWS) cargoes will be available in January, steady from the previous month, a trader said, citing a preliminary loading programme.Woodside has a cargo loading on Jan. 1-5 while BP and Petro-Diamond have one each on Jan. 11-15 and Jan. 17-21, respectively. Chevron's cargo will load on Jan. 25-29.The intensifying political strife ...

 



 
Index Closing Chg%
Arrow DJIA 17,810.06 0.51
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Arrow FTSE 6,750.76 1.08
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Arrow Sensex 28,334.63 0.95






Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln