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Brent drops below $83, but US jobs data could buoy prices SINGAPORE: Brent crude dropped for the second straight session on Friday, dragged below $83 by worries over a stronger US dollar, but likely upbeat data on US nonfarm payrolls for October may lend support to oil demand, said analysts. The dollar held near a four-year high against a basket of major currencies, with its near-term fortunes hinging on whether jobs data will add to or temper optimism about the US economy's outlook. A stronger greenback makes it more expensive for holders of other currencies to buy dollar-denominated commodities. "The market is assessing itself ahead of non-farm payrolls. More people employed means more oil demand," said Jonathan Barratt, chief investment officer at Sydney's Ayers Alliance. Brent had dropped 58 cents to $82.28 a barrel by 0750 GMT after falling as much as 90 cents the session before. It has fallen around 4 percent so far this week. US crude eased 25 ...

Middle East Crude: Dubai discount widens SINGAPORE: Dubai slipped into further discount on Friday as an overhang of cargoes weighed on the Middle East crude market.The cash Dubai price fell to a discount of about $2.25 a barrel against Dubai swaps.The weakness in Dubai comes after aggressive buying from Chinaoil had pushed the benchmark into a premium, despite an overall weak market."It's difficult to see any improvement in the market," a Singapore-based trader said, referring to trading for January cargoes which ...
Asia Distillates: Gasoil margin gains but Thai supply curbs SINGAPORE: The Asian gasoil margin edged higher on Friday, but gains were limited as Thailand offered spot supply in the market, industry sources said.The December gasoil margin increased by 10 cents to $15.91 a barrel above Dubai crude, Reuters data showed.Thailand's Bangchak Petroleum offered 12,000 kilolitres for mid-November loading, which added to spot supply where refineries had cut back on run rates, traders said.Taiwan's Formosa Petrochemical Corp sold its jet fuel cargo to Winson Oil ...
Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Friday after the OPEC oil cartel slashed its longer-term global demand outlook, while a stronger dollar also weighed, analysts said. The benchmark US futures contract, West Texas Intermediate for December delivery, dropped 36 cents to $77.55 while Brent crude for December eased 52 cents to $82.34 in afternoon trade.The Organization of the Petroleum Exporting Countries estimated in its annual world outlook Thursday that demand for its crude will fall ...
Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Friday after the OPEC oil cartel slashed its longer-term global demand outlook, while a stronger dollar also weighed, analysts said. The benchmark US futures contract, West Texas Intermediate for December delivery, dropped 28 cents to $77.63 while Brent crude for December eased 40 cents to $82.46 in late-morning trade.The Organization of the Petroleum Exporting Countries estimated in its annual world outlook Thursday that demand for its crude will fall ...
Asia-Pacific crude overhang persists; import tenders eyed SINGAPORE: The Asia-Pacific crude market held steady on Thursday as traders awaited the results of import tenders to gauge direction for January trading.Several December-loading cargoes were still uncommitted. Malaysia's Petronas this week offered Kikeh to some buyers, but it was unclear if a deal had been done.The state-owned company did not offer its new grade Kimanis to the market for December loading, another trader said.Thailand's PTT had yet to award a tender to buy 600,000 ...
Middle East crude-Dec Murban weaker SINGAPORE: Differentials for Abu Dhabi's Murban crude fell on Thursday due to weak demand in Asia.Shell sold a cargo of Murban for December-loading at around 70 cents a barrel below its official selling price (OSP), traders said. The cargo may have been sold to SK Energy, one trader said.The grade was traded at a small premium last month after cuts to its OSP, but slid into a discount. In late-October, Shell had offered Murban in ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln