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Oil prices up in Asia amid volatile trading SINGAPORE: Oil prices rose in Asia Friday as dealers digested a mixed US inventory report and a new round of interest rate cuts by the European Central Bank, while keeping watch on the Ukraine conflict.US benchmark West Texas Intermediate for October delivery gained 31 cents to $94.76 while Brent crude for October delivery was up 27 cents at $102.10 in late-afternoon trade.Sanjeev Gupta, head of the Asia-Pacific oil and gas practice at business consultancy EY, said oil prices were "see-sawing" as dealers tracked simultaneous upside and downside factors. US crude reserves in the United States in the week to August 29 fell 900,000 barrels, the Energy Information Administration said Thursday, close to analysts' expectations. However, a 0.2 percentage point drop in refinery usage to 93.3 percent of total capacity signalled tepid demand in the world's top crude consumer after the end of the summer driving season. The European Central Bank's ...

Middle East crude Saudi Arabia cuts all OSPs by at least $1  SINGAPORE: DME Oman's discount to Dubai widened in the Middle East crude market on Wednesday amid expectations Asian refiners will take more term supply and reduce spot purchases after Saudi Arabia cut prices for all grades by at least $1 a barrel.Saudi Aramco has cut its October price for its Arab Light grade for Asian customers by $1.70 a barrel versus September to a discount of $0.05 a barrel to the Oman/Dubai average, it said.The ...
China's Sinopec to push on with $10bn coal-to-gas plan BEIJING: Sinopec Corp is pushing ahead with plans to build China's largest plant to convert coal into synthetic gas, shaking off worries the $10 billion scheme could be hit by cost overruns that have dogged similar projects. The world's top energy user has made largely untested coal-to-gas (CTG) technology a key part of its strategy to boost the use of cleaner fuels as it battles pollution in its big cities.With production from conventional gas fields ...
Indian ONGC's sales premium down to 2010 levels SINGAPORE: India's Oil and Natural Gas Corp (ONGC) has sold a September naphtha cargo to Shell at about $7.00 above Middle East quotes on a free-on-board (FOB) basis, traders said, the lowest premium in about four years for a cargo sold out of Mumbai by the Indian seller. ONGC sold the 35,000-tonne cargo for Sept. 22-23 loading from Mumbai late on Wednesday, the traders said. Supplies have remained ample and the situation is unlikely to ...
Brent slips towards $102 on US fuel stock-build after overnight jump SINGAPORE: Brent crude slipped towards $102 a barrel on Thursday, reversing some of the sharp overnight gains, as US industry data showed fuel stocks rose last week and raised fresh doubts about the strength of demand in the world's biggest oil consumer. Oil futures on both sides of the Atlantic have seen wide swings this week, as the US dollar has gyrated. Brent hit a 16-month low on Tuesday, before bouncing back $2.43 yesterday as ...
Oil prices down in Asian trade SINGAPORE: Oil prices slipped in Asian trade Thursday as dealers squared their positions after a rally spurred in part by hopes of a resolution to the Ukraine conflict.US benchmark West Texas Intermediate for October delivery fell 67 cents to $95.87 while Brent crude for October eased 64 cents to $102.13 in afternoon trade. "We are seeing a continuation of a trend where there is a reversal in Asia-Pacific trading of certain impulse moves in the ...
US oil may end rebound around $96.09 SINGAPORE: US oil may end its sharp rebound from the Sept. 2 low of $92.68 around resistance at $96.09 per barrel, as indicated by its wave pattern and a Fibonacci retracement analysis.The rebound has been considered an extension of a three-wave cycle that developed from the Aug. 21 low of $92.50. Driven by a wave c, the rebound may end around $96.09, the 23.6 percent Fibonacci retracement on the fall from the July 22 high ...

 



 
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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 15, 2014
Reserves $13.414 bln