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Brent steady above $108, supported by China factory activity SINGAPORE: Brent crude was steady above $108 a barrel on Thursday, holding on to the previous day's gains, after a surprisingly strong reading on Chinese manufacturing bolstered hopes for higher demand in the world's second-biggest oil consumer. China's factory sector expanded at its fastest pace in 18 months in July, as a raft of government stimulus measures kicked in, a preliminary HSBC survey showed on Thursday. "China is a big commodities player, and this is definitely positive for oil," said Avtar Sandu, senior commodities manager at Phillip Futures in Singapore. "Equities have moved higher, so this is a number everybody is happy about," he said. Brent crude for September delivery traded up 10 cents at $108.13 a barrel by 0321 GMT, after closing 70 cents higher. US crude for September delivery was down 2 cents at $103.10.The contract had settled 73 cents higher on Wednesday. Prices pushed higher on Wednesday ...

US oil to retrace to $102 SINGAPORE: US September oil is expected to break support at $102.66 and retrace further to $102 per barrel, as indicated by a Fibonacci retracement analysis and a rising channel.The support is provided by the 50 percent Fibonacci retracement on the fall from the June 25 high of $106.64 to the July 15 low of $98.68. Oil seems to have been bouncing up and down within the rising channel from July 17, the lower channel line ...
Brent to retrace to $107.06 SINGAPORE: Brent oil may retrace to a support at $107.06 per barrel, as its correction from the July 18 high of $108.62 seems to be incomplete.The correction will consist of three waves, with the second wave labelled b having extended. The third wave, the wave c, may travel to $107.06, the 23.6 percent Fibonacci retracement on the fall from the June 19 high of $115.71 to the July 15 low of $104.39.Resistance is at $108.71, ...
China end-June crude stocks down 2.3pc on month BEIJING: China's commercial crude oil inventories at the end of June fell 2.3 percent from the previous month, while refined fuel stocks rose 0.51 percent from end-May, the official Xinhua news agency said on Thursday. Xinhua did not provide the outright inventory volumes. The government rarely discloses levels of either commercial or strategic oil stocks, making it difficult to gauge real demand in the world's second-largest oil consumer.Copyright Reuters, 2014 ...
Oil prices up in Asian trade SINGAPORE: Oil prices rose in Asia Thursday after the United States reported a large decline in its crude inventories, indicating strong demand in the world's biggest economy.US benchmark West Texas Intermediate for delivery in September was up two cents at $103.14 a barrel in mid-morning trade, while Brent crude climbed eight cents to $108.11.The US Energy Information Administration said inventories fell four million barrels in the week ending July 18.That marked the fourth weekly decline ...
India's Jan-June Iran oil imports climb by a third: trade NEW DELHI: India's crude imports from Iran rose by a third in the first half of the year, data from trade sources showed, after the shipments were boosted following an interim deal to slow Tehran's nuclear activity and ease Western sanctions.India, Iran's top oil client after China, raised the imports to some of the highest levels in nearly two years in the first quarter, partly to make up for deep cuts in 2013 due to ...
Asia Pacific crude trade slows as excess African supply weighs SINGAPORE: Sweet grades were slow to move in the Asia-Pacific crude market on Wednesday, depressed by the prospect of excess African supply heading to the east.As much as 50 million barrels of African crude remained unsold for July-August loading, a trader said, as weak demand caused the overhang.High freight costs for Suezmaxes have also deterred Asian buyers from snapping up the much-depressed African oil where premiums have slipped to multi-year lows.But regional sweets will remain ...


Index Closing Chg%
Arrow DJIA 16,982.59 0.13
Arrow Nasdaq 4,444.91 0.10
Arrow S&P 1,978.91 0.03
Arrow FTSE 6,788.07 0.05
Arrow DAX 9,598.17 0.48
Arrow CAC-40 4,344.77 0.33
Arrow Nikkei 15,529.40 0.46
Arrow H.Seng 24,428.63 0.88
Arrow Sensex 25,991.23 0.52

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