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Asia-Pacific Crude-ESPO rebounds but oversupply persists SINGAPORE: Spot premium for Russian ESPO Blend rebounded in the Asia-Pacific crude market on Thursday amid robust demand from refiners.Rosneft sold two ESPO cargoes loading May 25-28 and May 29-June 1 to trading firms at $2.25-$2.50 a barrel above Dubai quotes, with the cross-month cargo fetching the higher premium, traders said.The price level was at the higher end of the range of previous May-loading cargoes. The deals could not be independently verified.Crude differentials continue to draw support from strong refining margins as refiners benefit from lower oil prices. Complex refining margins in the Singapore hub have averaged more than $9 a barrel in the last three weeks.However, Singapore refining margins are forecast by Wood Mackenzie to fall in the second half of the year to $4-$6 a barrel due to high product inventories, putting pressure on refiners to cut runs."While refiners may see crude price discounts for a prolonged period, ...

Oil retreats from large jump as focus returns to Iran talks SINGAPORE: Oil futures fell on Thursday, retreating from big gains in the previous session, as the prospect that any deal in nuclear talks with Tehran and a possible increase in its crude exports helped to keep pressure on prices.Major powers and Iran have stretched talks on Tehran's nuclear programme into a second day past an end-March deadline, with diplomats saying the chances for a preliminary deal were balanced between success and collapse.Both Brent and U.S ...
Oil prices down in thin Asian trade SINGAPORE: Oil prices fell in thin pre-holiday trade in Asia on Thursday after a mixed US stockpiles report, while talks over crude producer Iran's nuclear programme dragged on, analysts said.US benchmark West Texas Intermediate fell 40 cents to $49.69 while Brent slipped 32 cents to $56.78 in afternoon trade."Prices have come off with thin volumes ahead of the holiday tomorrow," Michael McCarthy, chief market strategist at CMC Markets in Sydney, told AFP.Financial markets in major ...
Asia-Pacific Crude-ESPO weakens amid ample supply SINGAPORE: Spot differentials for Russia's ESPO Blend weakened in the Asia-Pacific crude market amid increasing supply of the grade.Rosneft sold a cargo of ESPO crude loading May 8-11 to Glencore at $1.90-$2 a barrel above Dubai quotes, traders said. The price was near the bottom of the range of previous May-loading cargoes.Surgut earlier sold two cargoes of the grade for loading in the second half of May at a premium of $2.30-$2.50 a barrel, according ...
Middle East Crude-PetroChina purchases underpin Dubai SINGAPORE: Strong demand from PetroChina supported the cash Dubai price in the Middle East crude market on Wednesday.PetroChina snapped up 41 June Dubai partials from Shell and Unipec on the first day of trading. The deals led to the deliveries of two Upper Zakum cargoes to Chinaoil, a trader said.Trade was otherwise muted as industry players await monthly prices from Gulf producers which are mostly expected to raise them after most May-loading cargoes traded in ...
Oil prices fall in Asian trade SINGAPORE: Oil prices fell in Asia on Wednesday after Russia and Iran's foreign ministers claimed a breakthrough in talks over Tehran's controversial nuclear programme that could ease sanctions on the crude producer. US benchmark West Texas Intermediate (WTI) for May delivery eased 27 cents to $47.33 while Brent crude for May fell 11 cents to $55.00 in late-morning trade. "The nuclear talks with Iran extended over the deadline. However, it seems to lean towards an ...
Middle East Crude-Dubai up on Shell's purchases SINGAPORE: Dubai cash prices in the Middle East crude market ended March on a strong note on Tuesday after Shell resumed purchases.Five cargoes - four Oman and one Dubai - will be delivered following a flurry of trades on the window, a trader said, which have strengthened the Dubai price and also narrowed the benchmark's intermonth contango spread.But Abu Dhabi light crude weakened after BP offered Das crude on RIM's window at 30 cents a ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln