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US oil to fall more to $102.30 SINGAPORE: US oil is expected to fall to a support at $102.30 per barrel, a break below which could lead to further loss to $100.94.The support is provided by the 23.6 percent Fibonacci retracement on the rise from the May 1 low of $98.74 to the May 27 high of $104.50. The next support will be at $102.30, the 38.2 percent level, which may temporarily stop the fall or even trigger a moderate rebound.Based on a wedge which developed from March 3, oil could be dropping toward the lower trendline of this pattern, which is about $100.10, the 76.4 percent level. A realistic target, however, could be $100.94, the 61.8 percent level.The views expressed are his own.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 ...

Japan's JX shuts CDU for maintenance as planned TOKYO: JX Nippon Oil & Energy Corp , Japan's biggest oil refiner, said it shut the 110,000-barrels-per-day (bpd) No.3 crude distillation unit (CDU) at Mizushima-B refinery on Thursday as planned for scheduled maintenance. The maintenance is set to last till Aug. 4, the company said last month. Copyright Reuters, 2014 ...
Brent holds near $110 on demand hopes as US gasoline stocks fall SINGAPORE: Brent futures held near $110 a barrel on Thursday on hopes of improved demand from the world's top oil consumer, the United States, as a sharp fall in US gasoline stocks added to recent data pointing to a stronger economy. The brighter demand outlook is supporting prices, already at elevated levels due to supply disruption concerns from Libya and a widening rift between Russia, the world's top oil producer, and the West over Ukraine. ...
Asia pacific crude weaker; Surgut sells ESPO lower SINGAPORE: The Asia-Pacific crude market weakened slightly on Wednesday as premiums for Russia's ESPO crude fell on slack demand from refiners struggling with low margins.Russia's Surgut sold two cargoes of ESPO crude loading July 13-17 and July 21-25 in a tender to Japan's JX Nippon at $5.40-$5.45 per barrel above Dubai quotes, traders said.JX Nippon last week bought two cargoes of the crude at a premium of $5.50 per barrel, according to Reuters data.Surgut also ...
Sinopec units suspended from trading, restructuring expected HONG KONG: Shares of two listed units of Chinese oil giant Sinopec Group - drilling equipment maker Kingdream and Sinopec Yizheng Chemical Fibre Co Ltd 1033.HK - were suspended from trading on Wednesday, pending announcements on transactions related to their parent.Shanghai-based Yizheng said in a filing with the Hong Kong stock exchange it had received notice from Sinopec Group that the state-owned giant was "planning a material transaction related to the company." Shenzhen-listed Kingdream made ...
Oil prices mixed with Ukraine crisis in focus SINGAPORE: Oil prices were mixed in Asia Wednesday, underpinned by concerns about the Ukraine crisis as fierce armed confrontation between government forces and pro-Moscow separatists continued unabated, leaving dozens dead.US benchmark, West Texas Intermediate (WTI) for delivery in July, eased four cents to $104.07 in afternoon trade. Brent North Sea crude for July gained 13 cents to $110.15 per barrel. Ukraine's interim pro-Western government said Tuesday it had recaptured an airport in the eastern city ...
US oil may test support at $103.14 SINGAPORE: US oil may test support at $103.14 per barrel, a break below which will lead to a further loss to $102.30.The support is provided by the 23.6 percent Fibonacci retracement on the rise from the May 1 low of $98.74 to the May 27 high of $104.50. The bearish divergence on the hourly RSI and the shallow fall from $104.50 indicate a possible reversal of the uptrend and progress of a downtrend.This downtrend may ...


Index Closing Chg%
Arrow DJIA 17,279.74 0.08
Arrow Nasdaq 4,579.79 0.30
Arrow S&P 2,010.40 0.05
Arrow FTSE 6,837.92 0.27
Arrow DAX 9,799.26 0.01
Arrow CAC-40 4,461.22 0.08
Arrow Nikkei 16,321.17 1.58
Arrow H.Seng 24,306.16 0.57
Arrow Sensex 27,090.42 0.08

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln