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Middle East Crude-Cash Dubai, DME Oman flip to premiums SINGAPORE: Cash Dubai strengthened in the Middle East crude market on Thursday, boosted by purchases from Shell and Unipec on the window.The benchmark flipped into a premium of about 40 cents against swaps after Shell bought July Dubai partials from Chinaoil at $61.10 a barrel, traders said. DME Oman also strengthened to a premium against Dubai swaps.The July-September spread narrowed to parity after Unipec bought a September partial from Trafigura at $61.10 a barrel.The narrower spread indicates a stronger Dubai market which is likely to prompt Middle East crude producers such as Saudi Aramco to raise their official selling prices (OSPs) next month.Separately, Russian ESPO premiums held steady from previous deals, although there were signs of weaker demand for prompt cargoes as Rosneft and Surgutneftegas have not awarded the first cargoes in their tenders, traders said.Rosneft sold a July 29-Aug. 1 ESPO cargo at about $2.50 a barrel above Dubai ...

Asia-Pacific Crude-Refinery demand weakens SINGAPORE: Spot differentials in the Asia-Pacific crude market came under pressure from weakening refinery demand, traders said on Thursday.While Asian refining margins have improved from last month , demand from typical buyers of regional sweet crude in Southeast Asia and Australia has been hit by scheduled maintenance or shutdowns of refineries.Spot premiums for Vietnam's Chim Sao and Bach Ho grades fell more than $1 a barrel from the previous month, traders said, although the exact ...
Oil prices higher in Asian trade SINGAPORE: Oil prices rose in Asia Thursday on expectations that the latest US stockpiles report will show a further dip in crude reserves as traders worry about a global oversupply, analysts said. US benchmark West Texas Intermediate for July delivery rose 21 cents to $57.72 while Brent crude for July gained 46 cents to $62.52 in late-morning trade. The Department of Energy's weekly petroleum report, usually released on Wednesdays, will be issued on Thursday owing ...
Brent oil to fall to $62.31 SINGAPORE: Brent oil is expected to fall to $62.31, as it has cleared a support at $64.02 per barrel.The support was provided by the 138.2 percent Fibonacci projection level of an upward wave C, the third wave of a three-wave cycle that developed from $52.50. The next support will be at $62.31, the 114.6 percent level, a break below which could cause a further loss to $61.25, the 100 percent level, which is pointed by ...
Oil recovers from drop of over 2pc, US crude stocks in focus SINGAPORE: Crude futures rose on Wednesday to recover ground from sharp drops in the previous session, boosted by expectations that US crude stocks could fall for a fourth straight week.Prices were also supported by comments from western diplomats that a nuclear deal with Iran was unlikely by a June 30 deadline and that the oil producer would not get sanctions relief before the end of the year in the best of cases.July Brent crude had ...
Oil prices steady but indications rally running out of steam SINGAPORE: Crude oil prices were broadly unchanged in early trading on Tuesday, as firm demand supported and ample supply dragged, but analysts said there were signs that a recent rally was running out of steam.Robust demand in Asia as well as due to the driving season in the United States is being met by near record output, especially from the Organization Of Petroleum Exporting Countries (OPEC), although US production seems to have been peaked, at ...
China end-April commercial crude stocks up 0.5pc on month BEIJING: China's commercial crude oil stocks at the end of April rose 0.5 percent from March, while refined fuel stocks were down 1.8 percent, the official Xinhua News Agency reported on Tuesday.Diesel led the fall in stocks with a 4.4 percent decline, as spring cultivation went into full swing, and industrial, mining and construction operation rates rose, China Oil, Gas & Petrochemicals (OGP), a Xinhua oil and gas newsletter, reported.Gasoline recorded a 3.4 percent rise, ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln