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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, the 38.2 percent retracement, a break above which will lead to a further gain to $110.05, the 50 percent retracement.The views expressed are his own.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 in the analyses. Copyright Reuters, 2014 ...

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 ...
Oil extends losses in Asian trade SINGAPORE: Oil prices extended losses in Asia Wednesday as a stronger US currency discouraged buying in the dollar-priced commodity and concerns over the geopolitical fallout from the downing of flight MH17 in Ukraine eased.Israel's operation against Hamas in Gaza continued to cause tensions, however, as UN chief Ban Ki-moon urged an end to the conflict that has entered its 16th day.US benchmark West Texas Intermediate (WTI) for September delivery was down 39 cents at $102.00 ...
Brent holds steady above $107; US oil stocks in focus SINGAPORE: Brent crude nudged lower but held above $107 a barrel on Wednesday, with a global oil glut keeping prices in check despite geopolitical tensions threatening supplies from key oil producing regions. The European Union threatened Russia with harsher sanctions over Ukraine, while Israel pounded targets across the Gaza Strip with no ceasefire in sight. Brent crude for September delivery fell 6 cents to $107.27 a barrel by 0333 GMT, after slipping 35 cents in ...


Index Closing Chg%
Arrow DJIA 16,472.37 1.23
Arrow Nasdaq 4,707.77 1.74
Arrow S&P 1,951.36 1.43
Arrow FTSE 6,129.98 0.95
Arrow DAX 9,553.07 0.46
Arrow CAC-40 4,458.88 0.73
Arrow Nikkei 17,725.13 0.02
Arrow H.Seng 21,506.09 3.17
Arrow Sensex 26,220.95 0.25

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.998 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklySeptember 21, 2015
Reserves $18.726 bln