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Brent at four-year low on global economy fears SINGAPORE: Crude prices tumbled Friday, with Brent hitting a four-year low on concerns about the global economy while the head of the IMF warned the eurozone could slip back into recession.Brent's November contract was trading at $88.40 a barrel in afternoon Asian trade, down $1.65 dollars the day before and at levels last seen in November 2010. US benchmark West Texas Intermediate for November delivery was down $1.92 to $83.85, its weakest level since June 2012.Prices of both contracts have lost about a fifth of their value since hitting their 2014 peaks in June. Friday's losses come as equities markets suffer another heavy sell-off.A fresh round of negative eurozone data showed a 5.8 percent slump in German exports in August, while leading think tanks also slashed their growth forecasts for Europe's largest economy.Adding to concerns, International Monetary Fund chief Christine Lagarde warned Thursday that there was a 35-40 percent chance ...

Oil prices extend losses on demand fears SINGAPORE: Oil prices sank Friday to more than two-year lows as weak economic data from Germany underscored concerns over a global economic slowdown and its impact on energy demand, analysts said.In Asian trade US benchmark West Texas Intermediate for November delivery tumbled $1.49 to $84.87, its weakest level since June 2012.Brent crude fell $1.61 to $88.44, also the lowest level since June 2012.The losses come as equities markets suffer another heavy sell-off.Another round of negative ...
Brent crude price drop prompts buying spree by China SINGAPORE/BEIJING: A 20 percent drop in global oil prices has whetted top energy consumer China's appetite for crude with PetroChina snapping up more than 8 million barrels in just over a week.Ample crude oil supply and lower economic growth from China to Europe has hammered oil prices over the past three months, with Brent this week hitting its lowest in more than two years.But prices may have reached a point where consumers such as China ...
Asia Pacific crude Sokol premium drops; Brent/Dubai gap widens SINGAPORE: The Asia-Pacific crude market came under pressure on Thursday, as premiums for Russia's Sokol dropped to a more than four-year low, while Brent's premium to Dubai swaps rose to its highest in nearly 10 weeks.Russia's Rosneft sold a prompt Sokol cargo in a tender to Vitol at about $3.50 a barrel above Dubai quotes, traders said.The 700,000-barrel cargo is due to load Nov. 19-28. Rosneft had extended the validity of the tender from Oct. ...
Middle East Crude Chinaoil continues buying spree SINGAPORE: Dubai strengthened in the Middle East crude market on Thursday as Chinaoil continued its buying spree.Chinaoil bought 63 Dubai partials on the Platts window, leading to the delivery of four physical cargoes. This raised the total number of cargoes Chinaoil purchased to 17 in just six trading days this month.Shell will deliver one cargo each of Oman and Upper Zakum while Chinaoil will also receive an Oman cargo from Unipec and an Upper Zakum ...
CNPC gets nod for China-Russia gas pipeline design BEIJING: China National Petroleum Corp (CNPC) has received government approval for the design of the Chinese section of a giant pipeline that is due to ship $400 billion worth of Russian natural gas to China, the company said on Thursday. China and Russia signed in May a gas supply deal, securing the world's top energy user a major source of fuel and opening up a new market for Moscow as it risks losing European customers ...
US oil to test support at $86.25 SINGAPORE: US oil is expected to test $86.25 per barrel, as it has broken support at $88.29.The support was provided by the 38.2 percent Fibonacci projection level of a downward wave C, the third of a three-wave cycle that developed from the June 20 high of $107.73.The next support will be at $86.25, the 50 percent level, a break below which will led to a further loss towards the 61.8 percent level at $84.21.A break ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln