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Brent stays above $66 after dip on oversupply worries BEIJING: Brent crude remained above $66 barrel on Wednesday, after resuming its drift downwards amid a glut of oil on the market, following a short-lived reprieve the previous day when a weaker dollar had provided some support to prices.Worries about oversupply have pushed Brent down 40 percent since June."Notwithstanding day-to-day movements, the fundamental picture hasn't really changed, and that is one of supply outstripping demand growth for most of the year," said Phin Ziebell, a senior analyst at National Australia Bank."It's an incessant march downwards, and it would be interesting to see where it bottoms out, but there doesn't seem to be any sign of it so far."On Wednesday, Brent's front-month futures contract traded down 71 cents at $66.13 a barrel by 0725 GMT, after falling more than a dollar to $65.78, still above a five-year low of $65.29 touched on Tuesday.On Monday alone it fell $2.88, or 4.2 percent, ...

Asia-Pacific Crude-Kimanis supply to rise in Feb SINGAPORE: The Asia-Pacific crude market came under pressure on Wednesday on an expected rise in supply of a new grade from Malaysia.Five cargoes of Kimanis crude could be available in February, up from three in the previous month, a trader said.Petroleum Brunei closed a tender on Wednesday to sell a cargo loading in Feb. 1-10.Output from the Gumusut-Kakap field was ramped up in the second half of this year and had been expected to reach ...
Middle East Crude-Feb Banoco AM flips into premium SINGAPORE: The Middle East crude market held firm on Wednesday after February Banoco Arab Medium was traded at a premium, up from a discount in the previous month.Petronas sold a cargo to Japanese refiner Fuji Oil at a premium of about 20 cents a barrel to its OSP, traders said. The grade was last traded at 10 cents below its OSP for January.February differentials for Abu Dhabi flagship Murban may hold steady at small premiums, ...
Russia's Rosneft to raise 800bn rbls in domestic rouble bonds MOSCOW: Russia's Rosneft plans to raise 800 billion roubles ($14.8 billion) from the sale of new domestic rouble bonds, RIA Novosti news agency said on Wednesday quoting company statements. Last year, Rosneft closed a deal to buy its peer TNK-BP for $55 billion, using capital markets to finance the deal, along with other tools. Copyright Reuters, 2014 ...
Brent resumes its fall, losing $1 on oversupply worries BEIJING: Brent crude dropped around $1 a barrel on Wednesday, resuming its fall caused by a glut of oil in the market after a short-lived reprieve the previous day when a weaker dollar had provided some support.Worries about oversupply have pushed Brent down 40 percent since June. "Notwithstanding day-to-day movements, the fundamental picture hasn't really changed, and that is one of supply outstripping demand growth for most of the year," said Phin Ziebell, a senior ...
Asian LNG prices seen falling by up to 30pc in 2015 SINGAPORE: Asian liquefied natural gas (LNG) prices are expected to fall by up to 30 percent in 2015, according to a survey of analysts and consultants, as the market enters a period of oversupply and the impact of lower oil prices kicks in. The explosive growth in LNG consumption seen in recent years has stalled on cooling Asian economies and with a resumption of nuclear energy and a greater use of coal in some markets. ...
Middle East Crude-Dubai down, Chinaoil turns seller SINGAPORE: Cash Dubai weakened in the Middle East crude market on Tuesday after Chinaoil sold 25 partials during Platts' price assessment process.The trading arm of PetroChina turned into a seller this month after a bull play in October.Chinaoil bought partials from Shell and Mercuria mostly at $62.40-$62.45 a barrel, traders said. It will deliver an Upper Zakum cargo to Shell, they said.Iraqi Basrah Light crude remained competitive after SOMO cut its January OSP to the ...

 



 
Index Closing Chg%
Arrow DJIA 17,804.80 0.15
Arrow Nasdaq 4,765.38 0.36
Arrow S&P 2,070.65 0.46
Arrow FTSE 6,545.27 1.23
Arrow DAX 9,786.96 0.25
Arrow CAC-40 4,241.65 0.18
Arrow Nikkei 17,621.40 2.39
Arrow H.Seng 23,116.63 1.25
Arrow Sensex 27,371.84 0.90






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln