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Oil prices up in Asian trade SINGAPORE: Oil prices rose in Asia Thursday following a surprisingly bullish US stockpiles report and on rising concerns that turmoil in Iraq will disrupt Middle East supplies.US benchmark West Texas Intermediate for July delivery rose 16 cents to $104.56 while Brent crude for July gained 33 cents to $110.28 in afternoon trade. Singapore's United Overseas Bank said prices are well-supported after the official US oil inventory report released Wednesday showed "a bigger than expected decline" in US stockpiles in the week to June 6.The drop of 2.6 million barrels outstripped a 1.7 million forecast by analysts surveyed by Dow Jones Newswires, indicating robust demand in the world's top crude consumer ahead of the busy summer driving season. Tang Hsin Jin, premium client manager at CMC Markets in Singapore, said investors are also closely monitoring escalating violence in Iraq, a member of the OPEC oil cartel. Rebels on Wednesday seized the ...

Oil prices up in Asian trade SINGAPORE: Oil prices rose in Asia Thursday following a surprisingly bullish US stockpiles report and on rising concerns that turmoil in Iraq will disrupt Middle East supplies.US benchmark West Texas Intermediate for July delivery rose 23 cents to $104.63 while Brent crude for July gained 40 cents to $110.35 in mid-morning trade. Singapore's United Overseas Bank said prices are well-supported after the official US oil inventory report released Wednesday showed "a bigger than expected decline" ...
Asia pacific crude firms; Rosneft sells Sokol SINGAPORE: The Asia-Pacific crude market firmed on Wednesday, with premiums for Russia's Sokol crude rising slightly from last month as refiners ramp up operations after maintenance.Rosneft sold 700,000 barrels of light sweet Sokol loading Aug. 9-18 in a tender at around $7.90 per barrel above Dubai quotes, traders said. That compared with premiums of $7.50-$8 per barrel last month.The buyer was not known and the deal could not be independently verified.The crude market was expected ...
Asia Naphtha/Gasoline-Naphtha up; Philippines starts new cracker  SINGAPORE: The Asian naphtha crack rose for the fifth straight session on Wednesday to reach $139.98 a tonne, its highest since May 10, supported by demand.The Philippines' JG Summit Petrochemical Corp has started up the country's first naphtha cracker after some delays and bought a 30,000-tonne spot cargo for early-July delivery from a Western trading house. The premium of the spot deal was unknown.Traders expect steady demand from now as the petrochemical firm needs to ...
US oil to seek support at $103.80 SINGAPORE: US oil may seek support at $103.80 per barrel before rising again towards resistance at $105.16.A wave pattern indicates that oil is riding a wave c, which is capable of extending to $107.36, its 100 percent Fibonacci projection level. However, it has been disrupted by resistance at the 61.8 percent level of $105.16, which at the same time caused a correction towards the 38.2 percent level of $103.80.A break below $103.80 could trigger a ...
Oil higher in Asian trade as OPEC gathers SINGAPORE: Oil prices rose in Asia Wednesday ahead of the release of a key indicator of US energy demand and a meeting of the OPEC oil cartel. US benchmark West Texas Intermediate for July delivery was up 13 cents at $104.48 a barrel in afternoon trade, and Brent oil for July added 22 cents to $109.74.The Organization of Petroleum Exporting Countries (OPEC), which pumps out about one third of the world's oil, is expected to ...
Brent rises towards $110 on expected fall in US gasoline stocks SINGAPORE: Brent futures rose towards $110 a barrel on Wednesday on expectations a fall in US gasoline stockpiles pointed to a healthy outlook for demand from the world's top oil consumer and that tensions in Iraq will worsen and crimp supply. Investors are waiting for confirmation of industry data that showed US gasoline stocks posted a surprise fall last week, and are also keeping an eye on the outcome of a meeting of producer group ...

 



 
Index Closing Chg%
Arrow DJIA 17,042.90 0.17
Arrow Nasdaq 4,493.39 0.28
Arrow S&P 1,972.29 0.28
Arrow FTSE 6,622.72 0.36
Arrow DAX 9,474.30 0.55
Arrow CAC-40 4,416.24 1.33
Arrow Nikkei 16,173.52 0.84
Arrow H.Seng 22,932.98 1.28
Arrow Sensex 26,630.51 0.13





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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
WeeklySeptember 25, 2014
Reserves $13.305 bln