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Middle East Crude DME Oman slips below $80, lowest in just over 4 years SINGAPORE: The Middle East crude market remained weak on Tuesday, with DME Oman hitting the lowest in just over four years, while Iraq and Kuwait kept their prices to Asia at wide discounts to a similar Saudi grade.Oman crude futures on the Dubai Mercantile Exchange (DME) slipped below $80 a barrel on Tuesday to the lowest in just over four years.Maersk and Unipec have started offering al-Shaheen crude for January loading although no deals were heard yet, a trader said.Unsold condensate and Abu Dhabi grades loading in December weighed on the market.Vitol and Mitsui likely have a deodorised field condensate (DFC) cargo each, while Tasweeq has a low-sulphur condensate, a second trader said. Total and BP held Murban and Das, he said.OSPsIraq has set the official selling price (OSP) for the flagship Basra Light grade it sells to Asia at the widest discount against a similar Saudi grade in 18 ...

US oil may revisit low of $75.84 SINGAPORE: US oil may revisit its Nov. 4 low of $75.84 per barrel, as indicated by its wave pattern and an expanding triangle.The drop on Nov. 10 suggests a resumption of the downtrend, which has been developing within the triangle since Oct. 17.This pattern will consist of five waves, with the fifth wave labeled v unfolding towards the lower trendline of the triangle, which is about $74.However, a more realistic target could be $75.84.Before falling ...
Brent oil may drop to $80.15 SINGAPORE: Brent oil may drop more to $80.15 per barrel, as it has broken a support at $82.87.The support is identified as the 86.4 percent Fibonacci projection level of a downward wave C, which started at the June 19 high of $115.71. Based on this Fibonacci analysis, oil could eventually drop to the 100 percent level at $77.70.A more proper target could be $80.15, the 76.4 percent Fibonacci projection level of a small wave c, ...
Iraq crude price to Asia at widest discount to Saudi grade in 18 months SINGAPORE: Iraq has set the official selling price (OSP) for the flagship Basra Light grade it sells to Asia at the widest discount against a similar Saudi grade in 18 months, price announcements from the two largest OPEC producers showed. The wider discount was likely due to a change in the quality of the Basra Light crude, which has become heavier after new production from fields such as West Qurna was blended into its export ...
Oil extend losses on dim prospects of OPEC output cut SINGAPORE: Crude prices extended losses in Asia Tuesday as the prospects of a production cut by the OPEC oil cartel dimmed, despite a global supply glut, analysts said. US benchmark West Texas Intermediate (WTI) for December delivery fell 11 cents to $77.29 while Brent crude for December eased 22 cents to $82.12 in mid-morning trade.WTI tumbled $1.25 in New York on Monday after Kuwait said the 12-nation Organisation of the Petroleum Exporting Countries is unlikely ...
Brent climbs towards $84 on Ukraine tensions, Libya disruptions SINGAPORE: Brent crude rose towards $84 a barrel on Monday, climbing for a second straight session amid heightened military activity in Ukraine and as chaos in Libya again threatened disruptions to the country's oil output and exports.A slew of weak economic data from China offered further evidence the world's second largest economy was cooling, opening the door for Beijing to implement stimulus measures that could spark demand in what is also the world's No.2 oil ...
Middle East crude steady ahead of January trade SINGAPORE: The Middle East crude market held steady on Monday as traders looked ahead to the al-Shaheen tender to kick start January trade.Tasweeq will close the tender on Wednesday to sell five cargoes of al-Shaheen with bids valid until Friday, a trader said. The cargoes will load on Jan. 20-21, 23-24 and 26-27 with the remaining two loading on Jan. 29-30.Saudi Arabia, the world's top crude exporter, will supply full contracted volumes of crude oil ...

 



 
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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