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Middle East crude market steady ahead of August-loading trade SINGAPORE: The Middle East crude market held steady on Tuesday ahead of the spot trading window in August-loading cargoes which begins next week.Traders expected demand to rise from last month as Asian refiners return from maintenance, although weak refining margins may weigh on appetite.Abu Dhabi National Oil Company's (ADNOC) flagship Murban grade could be supported by limited supply after Shell sold 2 million barrels for August-loading to Indian Oil Corp (IOC).Some traders suggested Shell may have sold the cargo early in anticipation of a weakening market, suggesting a bearish market outlook.Qatar's Tasweeq was expected to issue a tender for August-loading al-Shaheen late this week or early next week.Copyright Reuters, 2014 ...

China set for 'Golden Age' of natural gas PARIS: Demand for natural gas is set to nearly double within five years in China but the emerging market giant will meet half that with domestic supplies, the International Energy Agency said Tuesday.In its latest medium-term forecasts for the natural gas sector, the IEA trimmed its five-year outlook for consumption by 0.2 points to an annual increase of 2.2 percent as European countries step up use of renewable energy.However, it said demand for cleaner-burning natural ...
Oil prices extend gains in Asia SINGAPORE: Oil prices extended their gains in Asia Tuesday as investors cheered robust economic data from the US, China and Japan, with the breakdown of initial Ukraine-Russia talks to avert a gas cut-off also boosting prices.US benchmark West Texas Intermediate (WTI) for July gained 39 cents to $104.80 a barrel in afternoon trade after jumping $1.75 in New York on Monday.Brent North Sea crude was up 14 cents to $110.13 for its July contract after ...
US oil to test resistance at $105.16 SINGAPORE: US oil is expected to test a resistance at $105.16 per barrel, a break above which will lead to a further gain to $106.The sharp surge on June 9 indicates an extension of the uptrend from the May 1 low of $98.74. Driven by a powerful wavec, this trend is capable of extending to $107.36, the 100 percent Fibonacci projection level, based on the length of the preceding wave a that developed at $98.74 ...
Brent oil faces resistance at $110.27 SINGAPORE: Brent oil faces resistance at $110.27 per barrel and may retrace to $109.79.The resistance is provided by the 76.4 percent Fibonacci retracement on the fall from the May 22 high of $111.04 to the June 5 low of $107.77.Given that the rise from the June 6 low of 108.46 looks too linear to sustain, chances are, a correction may be triggered by the resistance, towards the 61.8 percent retracement at $109.79.A break above $110.27 ...
Brent rises above $110 after best day in two months on demand hopes SINGAPORE: Brent futures rose above $110 a barrel on Tuesday, after posting their biggest daily gain in nearly two months in the previous session, on hopes of healthy demand growth from the United States and China - the world's top two oil consumers. China's central bank cut the level of reserves banks must hold for those that have sizeable loans to the farming sector and small- and medium-sized firms, helping support the economy. Oil also ...
Middle east crude Qatar raises OSP; August cargoes seen at discount SINGAPORE: The Middle East crude market held steady on Monday as traders looked ahead to next week when trade in August-loading cargoes will begin.Most Middle East producers have raised their official selling prices (OSP) this month amid a stronger Dubai market as steeper backwardation signalled stronger prompt demand.The latest producer to do so was Qatar, setting the May retroactive OSP for its Marine crude at $106.45 a barrel, up $1.25 a barrel from the previous ...

 



 
Index Closing Chg%
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln