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Oil extends losses as deadline for Iran nuclear deal looms SINGAPORE: Oil futures extended losses on Tuesday, as Iran and six world powers ramped up the pace of negotiations to reach a preliminary deal that could ease sanctions and allow more Iranian crude onto world markets.With a deadline less than 24 hours away, United States, Britain, France, Germany, Russia and China were trying to break an impasse in negotiations aimed at stopping Iran from having the capacity to develop a nuclear bomb, in exchange for an easing of international sanctions.Officials said talks on a framework accord, which is intended as a prelude to a comprehensive agreement by the end of June, could yet fall apart over disagreements on enrichment research and the pace of lifting sanctions."Iran has built up significant oil inventories and could immediately increase exports if sanctions are lifted," analysts at ANZ said in a note.Shipping sources say Iran is storing at least 30 million barrels of oil ...

Asia-Pacific Crude-Arbitrage inflows may weigh SINGAPORE: Most May loading cargoes were committed in the Asia-Pacific crude market, although differentials could come under pressure from inflows of cheaper West African grades.Both Indonesia's Pertamina and Taiwan's CPC bought African grades in their import tender for sweet grades.Brent's narrowing premium to Dubai crude makes African oil more competitive relative to Middle East crude. Brent-Dubai Exchange of Futures for Swaps (EFS), or Brent's premium to Dubai swaps, narrowed 29 cents to $1.22 a barrel ...
India lowers April-Sept gas prices by 8pc: govt NEW DELHI: Locally produced gas in India will cost 8 percent less during April-September, the government said in a statement on Tuesday, due to a decline in global prices.India in November introduced a new gas-pricing formula and raised the local prices by a third. The formula links the prices of locally produced gas with those in the United States, Canada, UK and Russia.Prices will be cut to $4.66 per million British thermal units (mmBtu) in ...
Oil prices edge lower as Iran nuclear deadline approaches SINGAPORE: Oil prices fell in Asia on Tuesday as dealers monitored last-ditch efforts between global powers and Iran to reach a deal on Tehran's nuclear programme and ease sanctions imposed on the crude producer. US benchmark West Texas Intermediate fell 67 cents to $48.01 while Brent eased 41 cents to $55.88 in afternoon trade.Singapore United Overseas Bank said prices "tumbled as hopes for a nuclear deal with Iran climbed".Foreign ministers of US-led major world powers ...
Middle East Crude-Iraq loading delays support SINGAPORE: The Middle East crude market strengthened after poor weather delayed loadings at Iraq's southern terminal, traders said on Monday.Tankers have waited to load Iraqi Basra Light for several weeks, creating tightness in the market, traders said. Last month, poor weather also caused delays to shipments from Iraq.Spot premiums for Iraqi Basra Light were likely to have improved in a tender by Indian Oil Corp (IOC) seeking 2 million barrels of the grade loading in ...
Asia-Pacific Crude-Refinery demand supports SINGAPORE: The Asia-Pacific crude market continued to draw support from robust refinery demand even as some prepare for peak maintenance season.Complex refining margins in the Singapore hub have averaged more than $9 a barrel this month.Russia's Rosneft sold a cargo of May loading Sokol crude in a tender at about $4.70-$4.90 a barrel above Dubai quotes, a trader said, higher than the previous month. The buyer was not known, and the deal could not be ...
Oil prices drop on weak demand, potential Iran deal SINGAPORE: Oil prices fell on Monday as traders focused on whether Iran and six world powers would reach a deal that could add fuel to an already oversupplied market if sanctions against Tehran are lifted.The two sides are trying to reach an agreement in nuclear negotiations by a Tuesday deadline."Any relaxation of Iran oil sanctions could see increased exports adding to swelling global supplies and further pressuring prices," ANZ said.Brent crude futures were down 42 ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln