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Oil prices down after weak US jobs report SINGAPORE: Oil prices dipped in Asia Monday as a disappointing US jobs report tempered sentiment about demand in the world's top crude consumer, analysts said.US benchmark West Texas Intermediate for October delivery eased one cent to $93.28 while Brent crude for October fell seven cents to $100.75 in late-morning trade. "The unexpectedly weak US jobs number puts doubt in the US economic outlook and in turn, weakened oil demand," Singapore's United Overseas Bank said in a note. The Labor Department said Friday the US added 142,000 new jobs in August, snapping a six-month streak of more than 200,000 jobs per a month and far below the 223,000 tipped by analysts.The data supported the view that the world's biggest economy is still struggling to pick up speed, and that wages remain very flat, holding back consumer spending.Desmond Chua, market analyst at CMC Markets in Singapore, said markets are likely to trade ...

Brent oil to test support at $101.38 SINGAPORE: Brent oil is expected to test a support at $101.38 per barrel, a break below which will lead to a further loss to $100.17.The support is provided by the 14.6 percent Fibonacci retracement on the downtrend from the July 25 high of $108.46 to the Sept. 2 low of $100.17, working as a barrier towards $100.17.A failure to break the support would signal that the rebound from $100.17 may extend. Resistance will be at ...
Brent holds near $102, heads for weekly drop as firm dollar hurts SINGAPORE: Brent crude retained most of its overnight losses and steadied near $102 a barrel on Friday, heading for a third weekly drop in four as a firmer dollar weighed, although data showing lower crude stocks in the United States kept a floor under prices. Oil prices on both sides of the Atlantic fell nearly $1 on Thursday as a surprise cut in interest rates by the European Central Bank led to a spike in ...
China CNOOC starts fuel exports from Huizhou refinery BEIJING: China National Offshore Oil Corp has started oil product exports, the company said on Friday, joining oil majors Sinopec and PetroChina to conduct overseas sales from its own refinery. The sales by CNOOC are expected to drag on margins for oil products in Asia at a time when new refining capacity and upgrades have sharply increased supply in the region. CNOOC, parent of China's top offshore oil producer CNOOC Ltd , loaded its first ...
Oil prices up in Asia amid volatile trading SINGAPORE: Oil prices rose in Asia Friday as dealers digested a mixed US inventory report and a new round of interest rate cuts by the European Central Bank, while keeping watch on the Ukraine conflict.US benchmark West Texas Intermediate for October delivery gained 31 cents to $94.76 while Brent crude for October delivery was up 27 cents at $102.10 in late-afternoon trade.Sanjeev Gupta, head of the Asia-Pacific oil and gas practice at business consultancy EY, ...
Middle East crude Saudi Arabia cuts all OSPs by at least $1  SINGAPORE: DME Oman's discount to Dubai widened in the Middle East crude market on Wednesday amid expectations Asian refiners will take more term supply and reduce spot purchases after Saudi Arabia cut prices for all grades by at least $1 a barrel.Saudi Aramco has cut its October price for its Arab Light grade for Asian customers by $1.70 a barrel versus September to a discount of $0.05 a barrel to the Oman/Dubai average, it said.The ...
China's Sinopec to push on with $10bn coal-to-gas plan BEIJING: Sinopec Corp is pushing ahead with plans to build China's largest plant to convert coal into synthetic gas, shaking off worries the $10 billion scheme could be hit by cost overruns that have dogged similar projects. The world's top energy user has made largely untested coal-to-gas (CTG) technology a key part of its strategy to boost the use of cleaner fuels as it battles pollution in its big cities.With production from conventional gas fields ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln