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Brent falls below $103/barrel on easing geopolitical risks SINGAPORE/LONDON: Brent crude fell more than $1 to trade below $102.5 a barrel on Monday, as the threat of wider conflict in Ukraine diminished, oil output increased in Libya and worries eased over supply from key producer Iraq.The drop followed a spike in benchmark prices on both sides of the Atlantic on Friday when fighting in east Ukraine intensified.In what may be a breakthrough in Ukraine's campaign against pro-Moscow separatists, government forces raised their national flag over a police station in the city of Luhansk that was for months under rebel control.Also reassuring investors, Russia's Foreign Ministry said on Monday a "certain progress" was achieved during talks among Russia, Germany, France and Ukraine in Berlin on Sunday."There was a scare on Friday, but investors realized over the weekend that geopolitical threats are becoming less serious," said Avtar Sandu, a senior commodities manager at Phillip Futures in Singapore.Brent crude for October ...

South Korea running out of spent nuclear fuel storage space SEOUL: South Korea needs to quickly find additional space where it can store its spent nuclear fuel because some of its temporary storage capacity will be full by 2016, an independent body that advises the government on nuclear issues said on Monday. The country has 23 nuclear reactors supplying about a third of its power. Seoul has been under pressure to cut its reliance on nuclear power since late 2012 when safety scandals led to ...
Asia Naphtha: Kuwait sells prompt cargo; premium slumps SINGAPORE: Kuwait Petroleum Corp (KPC) has sold a prompt naphtha cargo to Vitol at about $6 a tonne above Middle East quotes on a free-on-board (FOB) basis, the lowest premium the Middle East refiner received this year, traders said on Monday. KPC sold the 25,000-tonne full-range naphtha cargo last Friday for Aug. 27-28 loading to the European trading house. KPC had previously sold 50,000 tonnes of full-range naphtha for Sept. 20-30 loading at a premium ...
Shangai stock index hits 8-month high despite worries over economy SHANGHAI: China's stock indexes rose on Monday, with the Shanghai Composite Index touching its highest in eight months despite concerns about the health of the economy. Both the CSI300 index of leading Shanghai and Shenzhen A-share listings and the Shanghai Composite rose 0.6 percent, to 2,374.6 and 2,239.5, points respectively. It was the highest close for the SSEC since December 2013. Media-related companies posted big gains in both Shanghai and Shenzhen on Monday, though the ...
Oil prices down in Asian trade SINGAPORE: Oil prices eased in Asian trade Monday, but retained support from the latest round of tensions between Ukraine and Russia which sparked concerns of a full-scale military conflict, analysts said.US benchmark West Texas Intermediate for September delivery was down 62 cents at $96.73 while Brent crude for October fell 92 cents to $102.61 in afternoon trade.Desmond Chua, market analyst at CMC Markets in Singapore said oil prices were supported by news on Friday that ...
Brent falls below $103 on higher Libyan output, lower geopolitical risk SINGAPORE: Brent crude fell below $103 a barrel on Monday as Libya increased its oil output and as worries over supply from key producer Iraq eased. The drop came following a jump of more than $1 a barrel in benchmark prices on both sides of the Atlantic on Friday amid fresh tensions in Ukraine, where government forces engaged a Russian armoured column. "There was a scare on Friday, but investors realised over the weekend that ...
Asia Naphtha: South Korea's KPIC seeks cargoes for Oct '14 to Dec '15 SINGAPORE: Korea Petrochemical Ind Co Ltd (KPIC) is the latest to join a string of petrochemical firms in South Korea in seeking naphtha through term contracts as prices have fallen significantly due to ample supplies, traders said on Monday. KPIC, South Korea's smallest ethylene producer by capacity, is seeking at least 100,000 tonnes of naphtha for October 2014 to December 2015 arrival at Onsan through a tender that closes on Aug. 18. The tender is ...

 



 
Index Closing Chg%
Arrow DJIA 16,919.59 0.48
Arrow Nasdaq 4,527.52 0.43
Arrow S&P 1,981.60 0.50
Arrow FTSE 6,779.31 0.56
Arrow DAX 9,334.28 0.96
Arrow CAC-40 4,254.45 0.56
Arrow Nikkei 15,449.79 0.83
Arrow H.Seng 25,122.95 0.67
Arrow Sensex 26,420.67 0.11





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln