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US oil to hover above support at $56.22 SINGAPORE: US oil may hover above a support at $56.22 per barrel for one day or rebound moderately to a resistance at $57.77 before falling again.The contract is riding on a firm downtrend towards $49.61, the 261.8 percent Fibonacci projection level of a downward wave C that developed from the Sept. 30 high of $94.90.The 223.6 percent level at $56.22 and the 214.6 percent level at $57.77 work respectively as the current support and resistance.A break above $57.77 could lead to a further rebound towards $60.30, the 200 percent level, while a fall to $55.90 may signal a break below $56.22.No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses. Copyright Reuters, 2014 ...

Brent oil to pull back to $61.89 SINGAPORE: Brent oil may rebound moderately to a resistance at $61.89 per barrel, before falling again towards a support at $59.25.The support and the resistance are identified respectively as the 200 percent and the 176.4 Fibonacci projection levels of a downward wave c that developed from the Nov. 21 high of $81.61.A break above $61.89 may trigger a further gain to $63.52, the 161.8 percent projection level, while a drop below $60.28 will confirm the ...
Oil prices plunge to fresh five-year low in Asian trade SINGAPORE: Oil prices sank to a fresh five-year low in Asia on Monday after a top OPEC official said the relentless plunge was not just because of a global supply glut.US benchmark West Texas Intermediate for January delivery fell 25 cents to $57.56 while Brent crude for January was down one cent to $61.84 in mid-morning trade.Most oil market observers attribute the price slump to a supply glut -- spurred by rising US shale oil ...
Brent recovers more than $1, hits $62.95 on strong data hopes SINGAPORE: Oil prices bounced back more than a dollar on Monday, after hitting 5-1/2-year lows of $60.28 earlier in the session, as traders began pricing in expectations of improving manufacturing data to be published later this week. Brent fell as much as 2.5 percent after the International Energy Agency forecast further price falls and OPEC's chief defended the group's decision not to cut its output target. Oil producers group OPEC can ride out a slump ...
Oil slump drags Asian stocks lower, Tokyo leads losses HONG KONG: Asian markets fell Monday as a relentless plunge in oil prices exerted downward pressure, while investors in Japan shrugged off Prime Minister Shinzo Abe's decisive re-election and focussed instead on the faltering economy.Sydney shed 0.89 percent as a hostage crisis erupted in the heart of the city, with terrified people cowering inside a cafe where an Islamic flag was displayed against a window, sparking a security lockdown in an area home to government ...
Thailand's PTT says 2014 profit to be hit by weak oil prices BANGKOK: PTT PCL, Thailand's largest energy firm, warned that its 2014 net profit could be lower than the 94.65 billion baht ($2.9 billion) earned in 2013 due to sharply lower oil prices.State-controlled PTT group, which uses global oil prices as a benchmark for its products, faced a drop in selling prices, while its refinery business would post inventory losses, Wirat Uanarumit, chief financial officer, told reporters on Friday."Our bottom line this year is likely to ...
Brent hits 5-1/2 year low of $63 on supply glut, demand woes BEIJING: Brent crude continued its march downwards on Friday, dropping to a 5-1/2-year low of $63 a barrel for a weekly loss of more than 8 percent, amid persistent concerns over a global supply glut and a bearish demand outlook. The Organization of Petroleum Exporting Countries (OPEC), which accounts for a third of global oil output, cut its 2015 demand forecast this week, to the lowest in more than a decade. "The recent bout of ...


Index Closing Chg%
Arrow DJIA 17,778.15 2.43
Arrow Nasdaq 4,748.40 2.24
Arrow S&P 2,061.23 2.40
Arrow FTSE 6,466.00 2.04
Arrow DAX 9,811.06 2.79
Arrow CAC-40 4,249.49 3.35
Arrow Nikkei 17,210.05 2.32
Arrow H.Seng 22,832.21 1.09
Arrow Sensex 27,126.57 1.56

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln