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Middle East Crude-Weaker; ESPO premiums fall SINGAPORE: Spot differentials for Russia's ESPO blend came under pressure in the Middle East crude oil market due to weak appetite from Asian refiners, traders said on Wednesday.ESPO for February loading was traded as low as $1.80-$1.90 a barrel above Dubai quotes, traders said, down from premiums of around $3 a barrel earlier this month.Rosneft sold three 730,000-barrel cargoes due to load in February in a tender at a premium of $2-$3 a barrel, the traders said.Two other cargoes, that were initially included in the tender, were re-tendered and eventually fetched premiums of below $2 a barrel, they said. The buyers were not known, and the deals could not be independently verified.MARKET NEWSThe Obama administration on Tuesday bowed to months of growing pressure over a 40-year-old ban on exports of most domestic crude, taking two steps expected to unleash a wave of ultra-light shale oil onto global markets.A fire raging ...

Brent falls towards $57 as demand concerns outweigh supply disruptions SINGAPORE: Brent crude prices dropped towards $57 a barrel on Wednesday as weak Chinese manufacturing data and demand concerns outweighed supply disruptions in Libya.China's factory sector shrank for the first time in seven months in December, with the final HSBC/Markit Purchasing Managers' Index (PMI) for this month coming in at 49.6.The final reading was higher than a preliminary reading of 49.5, but down from the final 50.0 in November. The 50.0 mark separates growth from ...
Indonesia to scrap gasoline subsidy from Jan 1 and float prices JAKARTA: Indonesia will ditch gasoline subsidies and link the retail prices to international oil markets from Jan. 1, the chief economics minister said on Wednesday, in one of the biggest reforms to the country's energy subsidies in decades.From midnight tonight, the government will stop subsidising gasoline prices altogether and set the price of gasoline according to global oil markets. "Prices will be evaluated every month," said coordinating Economic Minister Sofyan Djalil, adding that since world ...
Oil prices down in thin pre-holiday trade SINGAPORE: Crude edged lower in thin pre-holiday trade Wednesday ahead of the release of a key US supply report, as analysts predicted a rebound in prices in the new year after shedding nearly 50 percent since June. US benchmark West Texas Intermediate for February delivery fell 38 cents to $53.74 while Brent crude for February eased 49 cents to $57.41 in mid-morning trade. Trading volumes were thin with many dealers away ahead of the New ...
Asia-Pacific Crude-Firm demand supports; Bach Ho premium rises SINGAPORE: Differentials for Vietnam's Bach Ho improved in the Asia-Pacific crude market as higher refining margins boosted demand.PV Oil sold 600,000 barrels of Bach Ho crude loading in February to Mitsubishi's PetroDiamond at around $1 a barrel above dated Brent, traders said.PetroVietnam's marketing unit last sold Bach Ho crude for December-loading at a discount of around $1 a barrel, according to Reuters data.The grade has mostly been refined at Vietnam's Dung Quat refinery, but PetroVietnam ...
Middle East Crude-Chinaoil sells eighth Upper Zakum cargo to Shell  SINGAPORE: Cash Dubai came under renewed pressure in the Middle East crude market on Tuesday after sales by Chinaoil, the trading arm of PetroChina.Chinaoil will deliver an eighth Upper Zakum cargo to Shell, traders said. In October, Chinaoil bought 47 cargoes of Upper Zakum, Oman and Dubai in the window, which strengthened the Dubai benchmark.The physical market was quiet as many traders were away on holiday, but an oversupply of crude is likely to persist ...
US oil may fall to $52.10 SINGAPORE: US oil is expected to break a support at $53.37 per barrel and fall more to $52.10, as indicated by its wave pattern and a Fibonacci projection analysis.The support has been identified as the 114.6 percent Fibonacci projection level of a downward wave 3 which started at the Dec. 1 high of $69.54. It is the third wave of a five-wave cycle that started at the Nov. 21 high of $77.83.The next support will ...


Index Closing Chg%
Arrow DJIA 17,084.49 0.20
Arrow Nasdaq 4,830.47 0.41
Arrow S&P 2,014.89 0.07
Arrow FTSE 6,416.16 0.65
Arrow DAX 10,096.60 1.04
Arrow CAC-40 4,701.39 0.54
Arrow Nikkei 18,438.67 1.64
Arrow H.Seng 22,458.80 0.46
Arrow Sensex 27,079.51 0.87

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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 $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln