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US oil may revisit high of $58.98 SINGAPORE: US oil may revisit its Dec. 17 high of $58.98 per barrel, as it has managed to stabilize around a support at $53.69.The support has been identified as the 238.2 percent Fibonacci projection level of a downward wave C that developed from the Sept. 30 high of $94.90. The rebound triggered by this support has easily extended above two resistances, namely $56.22 and $57.77, respectively the 223.6 percent and the 214.6 percent projection levels. Chances are it may eventually reach $60.30, the 200 percent level.The downtrend shall remain steady and may resume once the rebound ends around $60.30, as the wave C is capable of traveling to $49.61, the 261.8 percent projection level.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 or legal advice regarding the products mentioned ...

Brent oil may approach resistance at $63.52 again SINGAPORE: Brent oil as it seems to have temporarily bottomed around support at $59.25 per barrel, and may approach resistance at $63.52 again to complete the current rebound.Support is at the 200 percent Fibonacci projection level of a downward wave C that developed from the Nov. 21 high of $81.61. The rebound triggered by this support may consist of three waves, so far, only two have completed.The third wave labeled c is expected to travel ...
Sinopec completes 8.2mn bbls commercial crude tanks in Tianjin BEIJING: Sinopec has completed about 8.2 million barrels of commercial crude reserve tanks in Tianjin, according to a report on the Chinese oil major's website on Thursday. Construction of 13 tanks, each sized 100,000 cubic metres, was completed on Dec. 16 at Dagang of Tianjin, the report said. Copyright Reuters, 2014 ...
Asia-Pacific Crude-Feb Chim Sao premiums edge up SINGAPORE: Spot premiums for February-loading Chim Sao edged up in the Asia-Pacific crude market on Wednesday as better refining margins buoyed demand and high freight rates curbed the flow of alternative supply from the Atlantic Basin.PV Oil sold a 300,000-barrel cargo each of Chim Sao to Vitol and BP at about $3 a barrel above dated Brent, traders said, up from $2.50-$2.90 a barrel in the previous month. The cargoes will load on Feb. 11-15 ...
Middle East Crude-Premiums climb on low OSPs, firm demand SINGAPORE: The Middle East crude market stayed firm on Wednesday with most February spot grades sold at higher differentials than the previous month.Low official selling prices (OSPs) and robust demand for incremental crude in Asia supported differentials in February, pushing up premiums for Abu Dhabi Murban close to 60 cents a barrel.A Japanese refiner has bought a Das crude cargo at more than 70 cents a barrel, a trader said.Refiners across Asia are keeping crude ...
Oil prices sink further in Asian trade SINGAPORE: Oil suffered fresh losses in Asia Wednesday, sinking to new multi-year lows as dealers watch Russia's ruble crisis and await the latest US crude supply report, analysts said.US benchmark West Texas Intermediate for January delivery sank $1.16 in afternoon trade to $54.77 while Brent crude for February fell 71 cents to $59.30 on the contract's first day of trading.Brent for January finished down $1.20 at $59.86 in London, after slipping below the psychological $60 ...
Brent drops below $60 as OPEC, Russia keep output steady amid glut SINGAPORE: Brent futures fell more than 1 percent on Wednesday, down for a sixth straight session, with persistent worries of a supply glut keeping prices near a 5-1/2 year low under $60 a barrel.Oil prices skidded in recent weeks, with Brent down nearly $20 since the Organization of the Petroleum Exporting Countries (OPEC) decided to keep output steady in late November.Non-OPEC member Russia, one of the world's top producers, has also indicated that it does ...


Index Closing Chg%
Arrow DJIA 17,778.15 2.43
Arrow Nasdaq 4,748.40 2.24
Arrow S&P 2,061.23 2.40
Arrow FTSE 6,466.00 2.04
Arrow DAX 9,811.06 2.79
Arrow CAC-40 4,249.49 3.35
Arrow Nikkei 17,210.05 2.32
Arrow H.Seng 22,832.21 1.09
Arrow Sensex 27,126.57 1.56

ICT 2014

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