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Oil prices tumble in Asia SINGAPORE: Oil prices resumed their downward spiral in Asian trade Thursday following another sell-off in equities as traders grow increasingly concerned about the global economic outlook, analysts said.US benchmark West Texas Intermediate (WTI) for November delivery fell $1.03 to a two-year low of $80.75 a barrel in afternoon trade. Brent crude for November retreated 87 cents to $82.91, levels last seen four years ago.Both contracts have lost more than a fifth of their value since hitting 2014 highs in June.Markets across Asia sank on Thursday, led by Tokyo, as a disappointing set of US data fanned worries that the effects of a slowdown in China, Europe and Japan are being felt in the United States.Traders took their lead from New York and Europe, where stocks and the dollar sank."WTI and Brent continued to open in red," Phillip Futures said in a market commentary. "With the current bearish conditions for crude ...

US oil to retest support at $79.95 SINGAPORE: US oil is expected to retest support at $79.95 per barrel, with a good chance of breaking below this level and falling more towards $77.60.Wave pattern indicates oil is riding on a powerful wave C, the third wave of a three-wave cycle that developed from the June 20 high of $107.73. Support is at the 86.4 percent Fibonacci projection level of this wave, temporarily holding it from traveling towards the 100 percent level at ...
Oil prices tumble in Asia SINGAPORE: Oil prices resumed their downward spiral in Asian trade Thursday following another massive sell-off in equities as traders grow increasingly concerned about the global economic outlook, analysts said.US benchmark West Texas Intermediate (WTI) for November delivery fell 90 cents to a two-year low of $80.88 a barrel in late-morning trade. Brent crude for November retreated 43 cents to $83.35, levels last seen four years ago.Both contracts have lost more than a fifth of their ...
Middle East crude Chinaoil buys 5 cargoes, al-Shaheen discount narrows SINGAPORE: The Middle East crude market stayed firm on Wednesday as Chinaoil snapped up another five cargoes, raising its purchases this month to 13.5 million barrels.The trading arm of PetroChina bought 84 Dubai partials which led to the delivery of five cargoes on the Platts window, traders said. Vitol and Total will deliver two Upper Zakum cargoes, they said. In addition, Chinaoil will receive three Oman, one from Shell and two from Unipec.Strong demand from ...
Exxon offers up to 6 million barrels of gasoil for 2015 term contract SINGAPORE: Exxon Mobil Corp has offered up to 6 million barrels of gasoil for loading in 2015 from its joint-venture refinery in Yanbu, Saudi Arabia, similar volumes to this year, industry sources said on Wednesday.The refiner offered 11 to 12 cargoes of either 300,000 barrels or 500,000 barrels each of 500 ppm sulphur gasoil for loading from the Saudi Aramco Mobil Refinery Co (SAMREF) refinery in Yanbu.The cargoes are for loading from January to December, ...
Oil prices see small rebound in Asia SINGAPORE: Oil staged a minor rebound on bargain-buying in Asian trade Wednesday following sharp falls that have seen prices hit multi-year lows owing to a supply glut and weak global demand, analysts said.US benchmark West Texas Intermediate (WTI) for November delivery climbed 20 cents to $82.04 a barrel in afternoon trade and Brent crude for November added 31 cents to $85.35.WTI is still languishing at two-year lows after plummeting 4.5 percent in New York on ...
Brent recovers above $85 after biggest fall in three years SINGAPORE: Brent edged higher above $85 a barrel on Wednesday, recovering from its biggest daily fall in three years, a drop that pushed prices to the lowest since late 2010 as traders scrambled to keep up with the downward momentum.Worries about oil supply exceeding demand in a slowing global economy sparked the rout that began after prices hit this year's high in mid-June. Brent is down about $30 since then.Comments from core OPEC members, including ...

 



 
Index Closing Chg%
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln