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Oil extends decline after crashing on inventory concerns SINGAPORE: Oil prices fell on Thursday, extending big losses logged in the previous session as record high inventories in the United States coupled with concern over global demand cut short a four-day rally.Oil markets remain highly volatile, with U.S. crude losing 9 percent on Wednesday in one of its biggest routs. In the previous four sessions, prices had rallied almost 19 percent from their lowest in nearly six years.Brent crude for March delivery dropped 77 cents to $53.39 a barrel by 0735 GMT, after reaching a session high of $55.01 then falling more than $1 at one stage. The contract had settled $3.21 or 5.5 percent lower on Wednesday.U.S. crude traded 67 cents lower at $47.78 a barrel, having also traded down more than $1. Earlier in the session, the contract climbed above $49 a barrel, after slumping on Wednesday on the large build-up in U.S. inventories.U.S. crude stocks increased ...

Asia-Pacific Crude-PTT tender results awaited SINGAPORE: Asia-Pacific crude market held steady as traders awaited results of PTT's buy tender to gauge price direction for April-loading cargoes which will trade later this month.PV Oil did not award a tender to sell Bach Ho crude for loading in the first half of March as the cargo will be used at the domestic refinery, sources familiar with the matter said.Separately, the Vietnamese marketer issued two tenders for April-loading crude. The Su Tu Den ...
Middle East Crude-Shell purchases support; Saudi OSPs eyed  SINGAPORE: Cash Dubai and Oman in the Middle East crude market remained supported by Shell's purchases on the window on Thursday, while traders eyed monthly prices from Saudi Arabia.Chinaoil will deliver an Upper Zakum cargo to Shell after the sale of 20 Dubai partials, said a trader.Qatar has cut Marine crude's January OSP differential to Dubai by 33 cents a barrel to minus $2.32 a barrel. It raised the OSP differential for Land crude to ...
Indonesia moves closer to raising bio-diesel subsidies JAKARTA: Plans by Indonesia's government to ramp up bio-diesel subsidies passed another important legislative hurdle late on Wednesday, as an influential parliamentary committee backed a near-threefold increase.President Joko Widodo's government is looking to protect Indonesia's fledgling bio fuel industry against lower crude prices and any increase in the subsidy could potentially boost demand for palm oil.An influential energy parliamentary committee agreed late on Wednesday to increase Indonesia's bio-diesel subsidy to 4,000 rupiah (32 US cents) ...
Asia-Pacific Crude-Steady; Brent-Dubai gap at 4-month low SINGAPORE: The Asia-Pacific crude market held steady as trading firms were in the process of reselling March-loading cargoes to end-users, although some may choose to store crude for sale later in the year.Spot differentials for March-cargoes were supported by improving refining margins and a storage contango play, although trading for April-loading cargoes, which begin later this month, may come under pressure due to lower seasonal demand and refinery maintenance.Traders awaited the result of a tender ...
Oil slips after 4-day rally on demand concerns, high stocks SINGAPORE: Oil prices fell on Wednesday as renewed concerns over global demand and high stock levels halted a rally that pushed up prices by about 19 percent over the past four sessions.The recent rebound was driven by hopes that prices may have hit a bottom after a seven-month rout slashed oil futures by nearly 60 percent and prompted major energy firms to cut spending on new production. But weak data from key consumer China has ...
Oil prices down in volatile Asian trade SINGAPORE: Oil prices fell in Asia Wednesday following a three-day rally as dealers were divided on whether the commodity has bottomed out after a plunge of nearly 60 percent since June, analysts said. US benchmark West Texas Intermediate (WTI) for March delivery fell 68 cents to $52.37 while Brent crude for March eased 14 cents to $57.77 in afternoon trade.WTI soared $3.48 to $53.05 Tuesday, its highest close since December 31, while Brent jumped $3.16 ...

 



 
Index Closing Chg%
Arrow DJIA 18,214.42 0.06
Arrow Nasdaq 4,987.89 0.42
Arrow S&P 2,110.74 0.15
Arrow FTSE 6,949.73 0.21
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Arrow Sensex 28,746.65 0.90







ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln