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US oil to drop to $44.65 SINGAPORE: US oil is expected to drop to $44.65 per barrel, as it has broken a support at $46.71.The support was at the 161.8 percent Fibonacci projection level of downtrend that developed from the Dec. 1, 2014 high of $69.54.The next support will be at $44.65, the 176.4 percent level, a break below which will lead to a further loss to $43.24, the 186.4 percent level.A sudden surge above $46.71, now a resistance, may be extended to $48.38, the 150 percent level.It seems that oil is still riding on a steady downtrend, which may eventually extend to $36.74 by end of March.Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses. Copyright Reuters, 2015 ...

Brent oil to fall to $45.88 SINGAPORE: Brent oil is expected to drop more to $45.88 per barrel, driven by a wave 5.This is the fifth wave of a powerful wave (3) that started at the Dec. 23, 2014 high of $62.14. Given that the third wave labelled 3 is slightly longer than the first wave, the wave 1, the wave 5 may extend a lot.A Fibonacci projection analysis based on the length of the wave 1 reveals an immediate target ...
Egypt seeks up to 285,000 T gasoil for Feb SINGAPORE: Egyptian General Petroleum Corp (EGPC) is seeking up to 285,000 tonnes of gasoil for delivery in February, more spot volumes than it sought in January, traders said on Tuesday. The state-owned company is seeking five cargoes of 34,000 to 36,000 tonnes each of 0.1 percent sulphur gasoil for delivery into Suez port over Feb. 1 to 3, Feb. 8 to 10, Feb. 14 to 16, Feb. 16 to 18 and Feb. 25 to 27. ...
China Dec crude imports top 7mn bpd to hit record BEIJING: China imported a record 7.15 million barrels of crude oil a day (bpd) in December, customs data showed on Tuesday, as the world's second largest oil consumer took advantage of low oil prices to fill its strategic reserves. China imported 30.37 million tonnes of crude oil for the month, the data showed, just shy of earlier estimates by Thomson Reuters Oil Research and Forecasts. An import surge that began in September has been sustained ...
Oil prices extend fall despite record China imports SINGAPORE: Global oil prices continued the week's rout with benchmark Brent crude falling for a fourth consecutive session on Tuesday to its lowest in more than five years, despite China reporting record crude imports. Both Brent and US crude are at their weakest since April 2009 and have fallen for seven straight weeks as oversupply clashes with slowing demand. February Brent crude fell to a low of $46.39 a barrel before edging back to $46.55 ...
Middle East Crude-Murban price cut lifts demand SINGAPORE: ADNOC's price cut for flagship Murban has given the grade a boost in Asia as a cargo may have been sold to Thailand early in the trading cycle for March-loading Middle East crude, traders said on Monday.The cargo was likely sold by a Japanese trader on Dubai basis, they said. Price details remained sketchy although most traders expect the grade to be priced at a premium to its official selling price (OSP).A trader expects ...
Asia-Pacific Crude-PTT buys regional grades in tender SINGAPORE: Asia-Pacific crude prices held steady on Monday as Thailand bought regional grades in a tender, reducing surplus in the market.PTT bought 1.2 million barrels of light sweet crude for March 1-5 arrival. The purchase includes a 600,000-barrel North West Shelf (NWS) condensate cargo and other grades from Vietnam and Malaysia. Prices were not immediately available.The market is under pressure from a rise in Malaysian crude supply and lacklustre demand from China, although high freight ...


Index Closing Chg%
Arrow DJIA 17,409.00 1.31
Arrow Nasdaq 4,683.41 0.98
Arrow S&P 2,017.30 0.95
Arrow FTSE 6,810.60 0.22
Arrow DAX 10,737.87 0.25
Arrow CAC-40 4,631.43 0.44
Arrow Nikkei 17,606.22 1.06
Arrow H.Seng 24,595.85 1.07
Arrow Sensex 29,681.77 0.41

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln