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Oil prices down in Asian trade SINGAPORE: Oil prices fell in subdued Asian trade Wednesday following sustained speculation about the dim prospects for an OPEC oil production cut in the face of abundant global supplies. US benchmark West Texas Intermediate for December delivery fell 46 cents to $77.48 while Brent crude for December was down 39 cents to $81.28 in late-morning trade. "Oil prices continue to tumble on concerns over modest demand and no signs of clipping supply at OPEC," said Desmond Chua, market analyst at CMC Markets in Singapore. Trading volumes were thin in Asian trade with few fresh leads for dealers to track following the Veterans Day public holiday in the United States. Investors are keeping a close eye on comments by OPEC members ahead of the cartel's next meeting in Vienna on November 27, with dissent evident in the 12-nation group on the need for a production cutback."I hope that (oil) prices will ...

Japan LNG spot price rises to $15.30/mmBtu in Oct TOKYO: Liquefied natural gas (LNG) spot prices for Japanese buyers rose for a second straight month in October, the government said on Wednesday, as seasonal demand climbed with utilities stockpiling for the approach of winter in the Northern hemisphere.The gains are likely to prove shortlived as Asian buyers are facing the prospect of lower import costs for the first winter since the Fukushima nuclear crisis in 2011, with rising supplies helping to ease any shortages.Spot ...
Brent drops towards $81 as oil glut worries counter disruption risks SINGAPORE: Brent crude fell towards $81 a barrel on Wednesday, holding just above a four-year low as concerns over a mounting oil glut outweighed geopolitical and supply disruption risks in Ukraine and Libya. With oil prices having fallen 30 percent from a mid-June peak, whispering among OPEC delegates ahead of its Nov. 27 meeting is starting to suggest it could cut production by around 500,000 barrels a day (bpd), bringing its daily output closer to ...
Asia-Pacific Crude unsold supply weighs, focus shifts to January SINGAPORE: The Asia-Pacific crude market stayed weak on Tuesday as unsold supply weighed while traders shift their focus to January trade.Four North West Shelf (NWS) cargoes will be available in January, steady from the previous month, a trader said, citing a preliminary loading programme.Woodside has a cargo loading on Jan. 1-5 while BP and Petro-Diamond have one each on Jan. 11-15 and Jan. 17-21, respectively. Chevron's cargo will load on Jan. 25-29.The intensifying political strife ...
Middle East Crude DME Oman slips below $80, lowest in just over 4 years SINGAPORE: The Middle East crude market remained weak on Tuesday, with DME Oman hitting the lowest in just over four years, while Iraq and Kuwait kept their prices to Asia at wide discounts to a similar Saudi grade.Oman crude futures on the Dubai Mercantile Exchange (DME) slipped below $80 a barrel on Tuesday to the lowest in just over four years.Maersk and Unipec have started offering al-Shaheen crude for January loading although no deals were ...
US oil may revisit low of $75.84 SINGAPORE: US oil may revisit its Nov. 4 low of $75.84 per barrel, as indicated by its wave pattern and an expanding triangle.The drop on Nov. 10 suggests a resumption of the downtrend, which has been developing within the triangle since Oct. 17.This pattern will consist of five waves, with the fifth wave labeled v unfolding towards the lower trendline of the triangle, which is about $74.However, a more realistic target could be $75.84.Before falling ...
Brent oil may drop to $80.15 SINGAPORE: Brent oil may drop more to $80.15 per barrel, as it has broken a support at $82.87.The support is identified as the 86.4 percent Fibonacci projection level of a downward wave C, which started at the June 19 high of $115.71. Based on this Fibonacci analysis, oil could eventually drop to the 100 percent level at $77.70.A more proper target could be $80.15, the 76.4 percent Fibonacci projection level of a small wave c, ...

 



 
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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