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US oil to retrace to $102 SINGAPORE: US September oil is expected to break support at $102.66 and retrace further to $102 per barrel, as indicated by a Fibonacci retracement analysis and a rising channel.The support is provided by the 50 percent Fibonacci retracement on the fall from the June 25 high of $106.64 to the July 15 low of $98.68. Oil seems to have been bouncing up and down within the rising channel from July 17, the lower channel line of which points to a target at $102.Resistance is at $103.60, a break above which will open the way towards $104.76, the 76.4 percent retracement.The views expressed are his own.No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses. Copyright Reuters, 2014 ...

Brent to retrace to $107.06 SINGAPORE: Brent oil may retrace to a support at $107.06 per barrel, as its correction from the July 18 high of $108.62 seems to be incomplete.The correction will consist of three waves, with the second wave labelled b having extended. The third wave, the wave c, may travel to $107.06, the 23.6 percent Fibonacci retracement on the fall from the June 19 high of $115.71 to the July 15 low of $104.39.Resistance is at $108.71, ...
China end-June crude stocks down 2.3pc on month BEIJING: China's commercial crude oil inventories at the end of June fell 2.3 percent from the previous month, while refined fuel stocks rose 0.51 percent from end-May, the official Xinhua news agency said on Thursday. Xinhua did not provide the outright inventory volumes. The government rarely discloses levels of either commercial or strategic oil stocks, making it difficult to gauge real demand in the world's second-largest oil consumer.Copyright Reuters, 2014 ...
Oil prices up in Asian trade SINGAPORE: Oil prices rose in Asia Thursday after the United States reported a large decline in its crude inventories, indicating strong demand in the world's biggest economy.US benchmark West Texas Intermediate for delivery in September was up two cents at $103.14 a barrel in mid-morning trade, while Brent crude climbed eight cents to $108.11.The US Energy Information Administration said inventories fell four million barrels in the week ending July 18.That marked the fourth weekly decline ...
India's Jan-June Iran oil imports climb by a third: trade NEW DELHI: India's crude imports from Iran rose by a third in the first half of the year, data from trade sources showed, after the shipments were boosted following an interim deal to slow Tehran's nuclear activity and ease Western sanctions.India, Iran's top oil client after China, raised the imports to some of the highest levels in nearly two years in the first quarter, partly to make up for deep cuts in 2013 due to ...
Asia Pacific crude trade slows as excess African supply weighs SINGAPORE: Sweet grades were slow to move in the Asia-Pacific crude market on Wednesday, depressed by the prospect of excess African supply heading to the east.As much as 50 million barrels of African crude remained unsold for July-August loading, a trader said, as weak demand caused the overhang.High freight costs for Suezmaxes have also deterred Asian buyers from snapping up the much-depressed African oil where premiums have slipped to multi-year lows.But regional sweets will remain ...
Oil extends losses in Asian trade SINGAPORE: Oil prices extended losses in Asia Wednesday as a stronger US currency discouraged buying in the dollar-priced commodity and concerns over the geopolitical fallout from the downing of flight MH17 in Ukraine eased.Israel's operation against Hamas in Gaza continued to cause tensions, however, as UN chief Ban Ki-moon urged an end to the conflict that has entered its 16th day.US benchmark West Texas Intermediate (WTI) for September delivery was down 39 cents at $102.00 ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln