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Brent slips below $110 as US budget crisis drags on SINGAPORE: Brent futures slipped below $110 per barrel on Wednesday, after lawmakers in Washington made little progress to end a budget impasse that threatens to curb demand in the world's biggest oil consumer and hurt investor confidence.US President Barack Obama said he would be willing to negotiate budget issues with Republicans only if they agree to re-open the government and raise the debt limit. Yet further declines were limited on supply disruption concerns from the Middle East.Brent oil traded 19 cents lower at $109.97 per barrel at 0339 GMT, after settling higher for a third straight session. US oil was 6 cents lower."The situation in the US is still uncertain, but I believe it will be resolved in time and don't see much impact on oil markets," said Tetsu Emori, commodity fund manager at Astmax Investments in Tokyo. " should be looking at the fundamentals rather than political issues, and ...

Oil prices down, eyes on US budget stand-off SINGAPORE: Crude prices fell in Asia on Tuesday as the political paralysis in Washington over the US budget shows no sign of ending, fuelling concerns it could lead to a US debt default. New York's main contract, West Texas Intermediate for delivery in November was down eight cents at $102.95 in afternoon trade while Brent North Sea crude for November eased 27 cents to $109.41.As the US standoff enters its eighth day on Tuesday with ...
Brent lower, holds above $109 despite cloudy demand outlook SINGAPORE: Brent futures fell slightly but held above $109 on Tuesday, as oil production in the Gulf of Mexico returned to normal and the US budget crisis continued to cloud the outlook for demand in the world's biggest oil consumer.One week into the US government shutdown and only 10 days from a critical deadline to raise the country's debt ceiling, a few faint glimmers of hope surfaced on Monday with President Barack Obama saying he ...
Japan's JX shuts 110,000 bpd Mizushima topper unit after fire TOKYO: JX Nippon Oil & Energy Corp, Japan's top oil refiner and a unit of JX Holdings Inc, said it shut its 110,000 barrel-per-day (bpd) No. 3 topper unit at its Mizushima B refinery in western Japan after a fire broke out on Monday.The fire occurred near a heating furnace of the topper unit around 5:20 p.m. (0820 GMT) on Monday and was extinguished by 7:45 p.m. (1045 GMT), the company said in a statement. ...
Oil prices down on US debt ceiling concerns SINGAPORE: Oil prices edged lower in Asian trade Monday on growing concerns the US budget crisis could spiral into a devastating debt default and ravage the global economy. New York's main contract, West Texas Intermediate for delivery in November fell 49 cents to $103.35 in afternoon trade, while Brent North Sea crude for November eased 35 cents to $109.11.The US government shutdown looks set to drag into day seventh on Monday, as a series of ...
Brent oil biased to break resistance at $109.85 SINGAPORE: Brent oil is biased to break resistance at $109.85 and rise further to $110.60, driven by a wave c.This is the third wave of a double-zigzag that started at the Oct. 1 low of $106.81. The first leg labelled a has completed, apparently consisting of five smaller waves marked 1, 2, 3, 4, 5.These five waves simply indicate the short uptrend from $106.81 has not finished, instead, it may rise faster towards $110.60, the ...
Oil prices slip further on US budget stand-off SINGAPORE: Oil prices retreated in Asian trade Friday as traders grow increasingly concerned at the lack of a breakthrough in the US budget stand-off that has closed parts of the government down. New York's main contract, West Texas Intermediate for delivery in November, eased 15 cents to $103.16 in mid-morning trade while Brent North Sea crude for November dipped 28 cents to $108.72."Oil prices continue to drift downwards as there hasn't been any concrete steps ...


Index Closing Chg%
Arrow DJIA 17,817.90 0.04
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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln