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Middle East Crude-Saudi price hikes lift market SINGAPORE: The Middle East crude market received a little boost from Saudi Arabia on Tuesday after the world's top exporter raised prices for oil sales to Asia on better demand.Saudi raised the February official selling prices (OSPs) for all grades it sells to Asia by 55-70 cents, levels largely within expectations. The price hikes were based on a narrowing contango in the Dubai market structure and improved refining margins. Asia's crude demand also held firm last month.The hikes for Arab Light and Medium were slightly larger than expected, traders said, likely because Saudi factored in a narrowing Oman/Dubai spread which occurred in the last five trading sessions of last month."The narrower Oman/Dubai spread did come into play this month and they really took it all," said an analyst.Nine Dubai partials were traded on Tuesday, with Vitol and Gunvor buying from Shell, Unipec, Mercuria and Chinaoil at $48.50-$48.70 a barrel.In global ...

Oil hits fresh 5-1/2-year lows; Brent below $53 SINGAPORE: Oil extended losses on Tuesday to touch fresh 5-1/2-year lows, following a 5 percent plunge in the previous session as a slew of bearish factors added to supply woes. Worries about surplus oil supplies were fuelled by data showing output in Russia hit a post-Soviet-era high in 2014 and exports from Iraq, OPEC's second-largest producer, were the highest since 1980. Jitters over political uncertainty in Greece drove investors out of risk assets globally to ...
Asian shares tumble as oil, Greek woes dim mood TOKYO: Asian shares tumbled on Tuesday as sliding oil prices and political uncertainty in Greece forced investors out of risk assets and into the safety of government bonds. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5 percent while Japan's Nikkei dropped 2.0 percent. The unrelenting slide in oil prices showed little signs of slowing in the new year, plunging as much as 6 percent on Monday to hit their lowest since spring 2009, ...
US oil targets $48.38 SINGAPORE: US oil may break a support at $50.04 per barrel and fall further towards the next support at $48.38, as indicated by its wave pattern and a Fibonacci projection analysis.These two supports are identified respectively as the 138.2 percent and the 150 percent Fibonacci projection levels of downtrend that developed from the Dec. 1, 2014 high of $69.54.The trend is a part of a bigger trend falling from the Nov. 21 high of $77.83. ...
Brent oil may fall more to $51.73 SINGAPORE: Brent oil may slide more to $51.73 per barrel, as indicated by its wave pattern, a Fibonacci projection analysis and a falling channel.Due to the sharp fall on Monday, oil has left a channel within which it has been falling from the Dec. 22, 2014 high of $62.97.It has moved into a duplicated falling channel, the lower channel line of which points to a target at $51.73, the 223.6 percent Fibonacci projection level of ...
Oil prices edge up after 5pc plunge; Brent holds above $53 SINGAPORE: Oil edged up on Tuesday, recovering from a five percent plunge in the previous session that saw prices touch fresh 5-1/2 year lows in an oversupplied market. Growth in oil supplies showed no sign of abating, with output in Russia hitting a record high in 2014 and exports from OPEC's second largest producer Iraq the highest since 1980.Jitters over political uncertainty in Greece drove investors out of risk assets globally to safe haven bonds. ...
Asia-Pacific Crude-Condensate mixed; NWS weakens SINGAPORE: Spot differentials for Asia-Pacific condensate grades were mixed, while several crude cargoes remained unsold, traders said on Monday.Australia's Northwest Shelf (NWS) condensate weakened, partly due to low naphtha cracks. Shell sold a cargo of NWS loading on Feb. 14-18 at a discount of slightly less than $4 a barrel against dated Brent, traders said.The buyer was not known, but traders said it may have been sold to a South Korean company. The grade was ...


Index Closing Chg%
Arrow DJIA 16,643.01 0.07
Arrow Nasdaq 4,828.32 0.32
Arrow S&P 1,988.87 0.06
Arrow FTSE 6,247.94 0.90
Arrow DAX 10,298.53 0.17
Arrow CAC-40 4,675.13 0.36
Arrow Nikkei 19,136.32 3.03
Arrow H.Seng 21,612.39 1.04
Arrow Sensex 26,392.38 0.61

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln