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Asia Naphtha: Abu Dhabi lowers term offers to +$28.50 and +$30/T SINGAPORE: Abu Dhabi National Oil Co (ADNOC) has lowered its offers on three naphtha grades for May 2014 to April 2015 loading by 5 percent to 6.25 percent to $28.50 to $30.00 a tonne above its own formula on a free-on-board (FOB) basis, traders said on Thursday. The current offers are now at $28.50 a tonne each for the splitter and low-sulphur grade and $30 a tonne for paraffinic grade. Traders said ADNOC's current offers are more reasonable when compared to Kuwait's recent term deal for supplies lifting April 2014 to March 2015 at $32 a tonne to Middle East quotes on a FOB basis. But no buyers have accepted the revised price as they have until March 14 to decide. The Asian naphtha market was weaker in most of February when compared to January but sellers' sentiment improved this week after exports from Europe to Asia were cut due ...

Oil prices rebound in Asia SINGAPORE: Oil prices rebounded in Asian trade Thursday as investors took to bargain hunting after sharp falls induced by a bigger-than-expected rise in US crude stockpiles.New York's main contract, West Texas Intermediate for April delivery, rose 13 cents to $98.12 in mid-morning trade and Brent North Sea crude for April was up 29 cents at $108.31."Trade is relatively muted mainly due to bargain hunting activities," Tan Chee Tat, investment analyst for Phillip Futures in Singapore, ...
Oil prices ease in Asian trade SINGAPORE: Oil prices fell in Asian trade Wednesday ahead of the weekly US stockpiles report that will give an indication of demand in the world's biggest economy.New York's main contract, West Texas Intermediate (WTI) for April delivery, dipped 61 cents to $99.42 in afternoon trade, and Brent North Sea crude for April eased 27 cents to $108.28.The US Department of Energy will release its report later in the day and analysts expected inventories to have ...
Oil prices ease in Asian trade SINGAPORE: Oil prices fell in Asian trade Wednesday ahead of the weekly US stockpiles report that will give an indication of demand in the world's biggest economy.New York's main contract, West Texas Intermediate (WTI) for April delivery dipped 47 cents to $99.56 in mid-morning trade, and Brent North Sea crude for April eased 20 cents to $108.35.The US Department of Energy will release its report later in the day and analysts expected inventories to have ...
Crude eases in Asia as weak China trade weighs SINGAPORE: Oil turned lower in Asian trade Tuesday with prices weighed down by weaker-than-expected Chinese trade data, analysts said.New York's main contract, West Texas Intermediate for April delivery, was down three cents to $101.09 in afternoon trade. Brent North Sea crude for April eased six cents to $108.02.Desmond Chua, market analyst at CMC markets in Singapore, said China's "surprisingly dismal" trade balance data was bearing down on the market.He said in a market commentary that ...
Crude rebounds in Asia but weak China trade weighs SINGAPORE: Oil rebounded in Asian trade Tuesday but analysts said prices remained weighed down by weaker-than-expected Chinese trade data, analysts said.New York's main contract, West Texas Intermediate for April delivery, was up four cents to $101.16 in mid-morning trade. Brent North Sea crude for April advanced nine cents to $108.17.Desmond Chua, market analyst at CMC markets in Singapore, said China's "surprisingly dismal" trade balance data was bearing down on the market.He said in a market ...
Brent slips below $109 on China data; supply concerns cap SINGAPORE: Brent futures slipped below $109 a barrel on Monday as data showing an unexpected fall in China's exports added to fears of a slowdown in the world's No. 2 economy, though geopolitical tensions in Ukraine and Libya limited the falls. The sharp drop in exports stoked oil demand-growth worries as it followed a series of factory surveys since the start of 2014 that points to weakness in economic activity. Most risk assets, including Asian ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln