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Oil prices slide after early gains on hopes of firm US data SINGAPORE: Oil prices slid back close to opening levels around $60.20 per barrel on Tuesday, after gaining earlier in the day on expectation of firm U.S. economic data due later on Tuesday.Front-month U.S. WTI crude futures rose over a dollar to a session high of $56.85 a barrel before dipping back to $55.67 at 0745 GMT. Brent crude was up 9 cents at $60.20 a barrel.Analysts said expectations of firm U.S. economic data later in the day had pushed prices higher in thin Asian trading due to a public holiday in Japan."The focus of today would likely come from U.S. durable orders and U.S. GDP figures. Durable goods orders depict a strong manufacturing sector which implies a higher industrial use of crude oil," said Singapore-based Phillip Futures in a report on Tuesday."With the U.S. economy picking up, we expect the figures to be favorable."Tuesday's price rises followed a volatile session ...

Middle East Crude-Chinaoil sells seventh Upper Zakum cargo to Shell  SINGAPORE: Cash Dubai in the Middle East crude market remained under pressure from sales by Chinaoil, the trading arm of PetroChina, during the trading window on Tuesday.Chinaoil will deliver a seventh Upper Zakum cargo to Shell after sales of 20 Dubai partials, traders said.Chinaoil also bought three Oman partials from Shell during the window which narrowed the Oman-Dubai spread, one trader said.Asia's trading focus shifted to Russian ESPO which has recently traded at around $3 ...
Asia-Pacific Crude-Floating storage seen more likely SINGAPORE: The Asia-Pacific spot crude market was supported by limited arbitrage inflows and robust demand on Tuesday.But a widening futures contango has prompted some traders to request to lease vessels for storage, as large-scale storage at sea looks to become profitable for the first time since the financial crisis more than five years ago, industry sources said.The economics for storing crude at sea have mostly remained unfavorable, but the spread between Brent first and second ...
Oil prices rise on hopes for firm US economic data SINGAPORE: Oil prices edged up in expectation of firm US economic data later on Tuesday, with trading thin due to a public holiday in Japan and as traders begin closing their 2014 positions ahead of Christmas and the New Year. Front-month US WTI crude futures rose over a dollar to a session high of $56.85 a barrel before dipping back to $55.79 at 0645 GMT. Brent crude was up 19 cents at $60.30 a barrel.Analysts ...
Kollsnes outage seen cutting Norway gas output by 13 mcm/day on Tuesday OSLO: Norway's gas output is seen down by 13 million cubic metres per day (mcm) on Tuesday as Kollsnes gas processing plant, the country's biggest, was shut on Monday due to external power supply loss, Norwegian gas system operator Gassco said on Tuesday.The outage at the plant, which can process up to 143 million cubic metres of gas per day for exports, was announced on Monday where it cut the country's output by 10 mcm/day. ...
Oil edges higher ahead of fresh US economic data SINGAPORE: Oil prices nudged higher in Asia Tuesday on hopes of improved US economy figures, but analysts said gains would be capped with dealers squaring positions for the end of the year.US benchmark West Texas Intermediate for February delivery gained 64 cents to $55.90 while Brent crude for February was up 33 cents to $60.44 in afternoon trade."We could see oil move slightly up today as investors expect the US third-quarter GDP figures to be ...
Oil prices rise on hopes for firm US economic data SINGAPORE: Oil prices edged up in expectation of firm US economic data later on Tuesday, with trading thin due to a public holiday in Japan and as traders begin closing their 2014 positions ahead of Christmas and the New Year. Front-month US WTI crude futures rose over a dollar to a session high of $56.85 a barrel before dipping back to $56.11 at 0340 GMT.Brent crude was up 46 cents at $60.57 a barrel. Analysts ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln