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US oil still targets $103.24 SINGAPORE: A bearish target at $103.24 per barrel remains unchanged for US oil, as indicated by a Fibonacci retracement analysis.The depth and the duration of the fall from $107.73 indicate this fall is against the longer uptrend from the May 1 low of $98.74, instead of the short one from the June 5 low of $101.60.A Fibonacci retracement analysis on the long trend reveals oil has broken below a support at $104.30, the 38.2 percent level. The next support will be at $103.24, the 50 percent retracement.The support at $104.30 has become a resistance, a break above which will signal the formation of a bottom around $103.80, and a rebound target at $105.20 will be established.The views expressed are his own.No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial ...

Brent trades near 3 week low just above $110; Libya could boost supply SINGAPORE: Brent crude prices hovered near a three-week low just above $110 a barrel on Monday, hurt by a potential rise in oil supply as Libya gears up to resume exports from two ports that have been closed for nearly a year. The benchmark dropped 2.3 percent last week, its biggest weekly decline since early January, on the Libyan news. Brent is about $5 a barrel below its highest point this year - marked in ...
Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asia Friday as profit-taking set in after rallying in response to a strong US jobs report, while dealers consider the prospect of an influx of Libyan crude into global markets, analysts said.US benchmark West Texas Intermediate for August delivery eased 11 cents to $103.95 while Brent crude rose five cents to $111.05. On Thursday the Labor Department said the US economy added 288,000 jobs in June, well above expectations ...
Brent dips to 3-week low below $111, Libya says oil crisis over SINGAPORE: Brent futures dipped below $111 a barrel on Thursday as supply fears eased after Libya declared an end to an oil crisis that has cut exports from the OPEC member to a trickle, although declines will be capped by concerns over Iraq.Libya's acting prime minister Abdullah al-Thinni said the government had reached a deal with a rebel leader controlling oil ports to hand over the last two terminals and end a blockade, making around ...
Oil extends losses on return of Libyan supplies SINGAPORE: Oil extended losses in Asia Thursday on prospects that Libya will begin exporting more crude into a global market flush with supplies, while easing concerns about the Iraqi crisis also weighed on prices.US benchmark West Texas Intermediate (WTI) for August delivery eased 35 cents to $104.13 while Brent crude for August was down 23 cents at $111.01 in afternoon trade. Brent fell $1.05 in London Wednesday after Libya's interim Prime Minister Abdullah Al-Thani declared ...
Oil extends losses on return of Libyan supplies SINGAPORE: Oil extended losses in Asia Thursday on prospects that Libya will begin exporting more crude into a global market flush with supplies, while easing concerns about the Iraqi crisis also weighed on prices. US benchmark West Texas Intermediate (WTI) for August delivery eased 47 cents to $104.01 while Brent crude for August was down 33 cents at $110.91 in late-morning trade. Brent fell $1.05 in London Wednesday after Libya's interim Prime Minister Abdullah Al-Thani ...
Oil prices up ahead of US supply report SINGAPORE: Oil prices edged higher in Asia Wednesday as dealers await the release of a US stockpiles report for clues about demand in the world's top crude consumer, while upbeat Chinese manufacturing data lent support.US benchmark West Texas Intermediate for August delivery rose 10 cents to $105.44 while Brent crude gained nine cents to $112.38 in afternoon trade. With few leads in Asian trading, focus is on the US Energy Information Administration's weekly stockpiles report ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln