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Oil prices down on fading supply fears SINGAPORE: Oil prices edged lower in Asia Thursday on fading fears that conflicts in crude producers Libya and Iraq could result in a major supply disruption, analysts said. US benchmark West Texas Intermediate for October delivery was down six cents at $93.39 while Brent for October eased 24 cents to $102.04 in late-morning trade."Benchmark prices weakened further as there has been no disruptions in crude supply despite ongoing crises in Iraq and Libya," said Sanjeev Gupta, head of the oil and gas practice at consultancy EY. In Iraq, the OPEC cartel's number-two producer, US air strikes that began on August 8 have pinned back the Islamic State group who have overrun large swathes of the country's north and west as well as parts of Syria.US President Barack Obama on Wednesday demanded the world take firm action against the "cancer" of militant extremism in Iraq and Syria, a day after the ...

Mideast crude pushed into deep discounts by African, LATAM supply SINGAPORE: Crude cargoes from Africa and Latin America heading to Asia are butting up against Middle East supply, pushing differentials for October-loading barrels from Gulf producers into deep discounts.With margins persistently low, Asian refiners are also processing less crude, cutting demand as booming U.S. shale oil output is pushing excess oil from the Atlantic Basin and Latin America eastward."The arbitrage will remain open for Asia and then Middle East grades will suffer," a Singapore-based trader ...
Asia Pacific crude weaker; Labuan premium falls SINGAPORE: The Asia-Pacific crude market continued to weaken on Wednesday as the premium for Malaysia's Labuan crude fell on low demand and large arbitrage inflows into the region.Still, some traders said the distillate-rich grade fetched a higher-than-expected premium in a market weighed down by poor refining margins.Malaysia's Petronas sold 300,000 barrels of Labuan crude loading Oct. 13-18 at $5.50-$5.80 a barrel above Dated Brent, traders said.The premium was down from around $6 a barrel for ...
Oil prices mixed in Asia SINGAPORE: Oil prices were mixed in Asia Wednesday as investors await the release of US Federal Reserve minutes from its July meeting, while keeping an eye on the latest stockpiles data.US benchmark West Texas Intermediate (WTI) for September delivery rose 81 cents to $95.29 on its last day of trading. It tumbled $1.93 in New York Tuesday as speculative traders sold off ahead of its expiration date. Brent crude for October eased 12 cents to ...
Japan July crude import volume down 2.7pc TOKYO: Japan's customs-cleared crude oil imports fell 2.7 percent in July from the same month a year earlier, the Ministry of Finance said on Wednesday. Japan, the world's fourth-biggest crude buyer, imported 3.32 million barrels per day (16.38 million kilolitres) of crude oil last month, the preliminary data showed. Japan's imports of liquefied natural gas totalled 7.84 million tonnes last month, up 5.7 percent from a year earlier. Imports of thermal coal for power generation ...
Brent holds near 14-month low on plentiful supply SINGAPORE: Brent crude futures steadied near 14-month lows above $101 a barrel on Wednesday, with ample supplies putting prices at risk of further losses as worries over geopolitical tensions ease. The oil benchmark has fallen more than 12 percent from this year's peak of $115.71 reached in June due to the turmoil in Iraq. While the conflict there continues, there has been no significant disruption to oil supply from the No. 2 OPEC producer, giving ...
Oil prices rebound in Asia SINGAPORE: Oil prices rebounded in Asia Tuesday on bargain-hunting after tumbling on easing concerns about conflicts in Ukraine and Iraq, analysts said. US benchmark West Texas Intermediate (WTI) for September delivery rose 38 cents to $96.79, while Brent crude for October was up 23 cents to $101.83 in afternoon trade.WTI fell 94 cents in New York trade Monday, while Brent sank $1.93 in London to hit its lowest level since June 2013. "We are seeing ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 02, 2014
Reserves $13.581 bln